Latest news with #BitcoinASIC
Business Upturn
19-05-2025
- Business
- Business Upturn
BitMine Launches Bitcoin Treasury Advisory Practice and Enters into $4M Transaction with First BTC Treasury Advisory Client
LAS VEGAS, May 19, 2025 (GLOBE NEWSWIRE) — BitMine Immersion Technologies, Inc. (OTCQX: BMNRD) today announced the launch of its Bitcoin Treasury Advisory Practice, alongside a $4 million strategic transaction with a U.S. exchange-listed company. BitMine is offering 'Mining as a Service,' or MaaS, to the strategic partner and plans to offer MaaS to companies that own Bitcoin and wish to add Bitcoin denominated revenue, in addition to Bitcoin, as a core treasury holding. Upon closing of the strategic agreement, BitMine will lease 3,000 Bitcoin ASIC miners to the client through December 30, 2025, for $3.2 million, with $1.6 million paid upfront. The client has also engaged BitMine for an $800,000 consulting agreement for one year, focused on Bitcoin Mining-as-a-Service and Bitcoin Treasury Strategy. This marks the first client for BitMine's new advisory business, which supports public companies with Bitcoin-based revenue strategies, GAAP accounting insights, custody solutions, and BTC/USD hedging. 'Currently, there are almost 100 public companies that have adopted Bitcoin as a treasury holding. We expect this number to grow in the future. As more companies adopt Bitcoin treasury strategies, the need for infrastructure, revenue generation, and expert guidance grows along with it,' said Jonathan Bates, CEO of BitMine. 'This single transaction is greater than our entire 2024 fiscal year revenue, and we feel there is an opportunity to acquire more clients in the near future as interest in Bitcoin ownership grows.' About BitMine Immersion Technologies, Inc. BitMine is a Bitcoin Network Company, with a focus on Bitcoin mining, Synthetic Bitcoin Mining through involvement in Bitcoin mining hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas. Forward-Looking Statements: This press release contains statements that constitute 'forward-looking statements.' The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding expected revenue from strategic transactions and future business opportunities. In evaluating these forward-looking statements, you should consider various factors, including: our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (the 'SEC') on April 3, 2025, and its Quarterly Report on Form 10-Q filed with the SEC on April 14, 2025, and all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. BitMine Immersion Technologies Contact: Jonathan Bates, Chairman and CEO [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
26-04-2025
- Business
- Yahoo
Why Bitdeer Technologies Group (BTDR) Soared Last Week
We recently published a list of . In this article, we are going to take a look at where Bitdeer Technologies Group (NASDAQ:BTDR) stands against other firms that recorded double-digit gains last week. Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite. Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent. In this article, we have listed last week's top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior. To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume. A construction team in a mining datacenter building work site with plans and equipment in hand. Bitdeer Technologies Group (NASDAQ:BTDR) Bitdeer Technologies surged by 38.19 percent week-on-week to end at $10.53 apiece on Friday versus the $7.62 close on April 17 following news that it was offered as much as $200 million in credit facility to finance its expansion plans. Earlier this week, Bitdeer Technologies Group (NASDAQ:BTDR) said that it entered into a loan agreement with Matrixport, a company also owned by its chairman, Jihan Wu, for a $200-million credit facility to finance its Bitcoin ASIC manufacturing efforts. The loan carries a variable interest rate of 9 percent and is repayable in fixed monthly installments over a period of 24 months. As of April 2021, Bitdeer Technologies Group (NASDAQ:BTDR) said it was already able to draw as much as $43 million from the credit line. In other news, BTDR recently acquired a 101-megawatt data center in Alberta, Canada, for $21.7 million. Last month, BTDR said it was able to mine 114 Bitcoins at a hash rate of 24.2 EH/s. It also completed mass production of 3.8 EH/s for its SEALMINER A1 mining rig, launched the SEALMINER A2 Pro series Bitcoin mining rigs, and obtained regulatory approval for Phases 1 and 2 of its Tydal, Norway site. 'We expect to energize more than 600 MW of power capacity over the next few months, including our Bhutan site,' the company said. Overall, BTDR ranks 2nd on our list of firms that recorded double-digit gains last week. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than BTDR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
