The media platform founded by Jimmy Donaldson, known as the popular YouTuber MrBeast, receives a $200 million investment Bitmine Immersion Technologiesthe world’s leading Ethereum treasury company.
Bitmine’s investment in Beast Industries is intended to support a digital company that has more than 450 million subscribers and attracts more than 5 billion monthly views. The deal ends on or about January 19th.
“We believe that Ethereum, a smart contract platform, is the future of finance, where not only dollars but also stocks and shares are digitized.” [are] will take place,” Bitmine Chairman Tom Lee said on CNBC’s “Squawk Box” on Thursday. “Over time, what is a service and what is digital money really becomes blurred, and this is where collaborating and investing in Beast Industries makes sense.”
In addition to Lee, who also serves as head of research at Fundstrat Global Advisors, Bitmine’s key investors include ARK’s Cathie Wood, Bill Miller III and Galaxy Digital.
“I think it’s part of the way digital platforms and money are evolving, and I think it really brings together the largest creator in the world with the largest Ethereum platform in the world,” Lee added.
Shares of Bitmine rose more than 1% premarket on Thursday following the announcement. The stock has already risen more than 20% since New Year’s Day, far exceeding the 1% gain S&P 500.
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BMNR, since the beginning of the year
Looking at the broader cryptocurrency universe, Lee is bullish on both Bitcoin and Ethereum and expects the former to reach a new all-time high in 2026. He is even more bullish on Ethereum and expects its performance to surpass Bitcoin’s this year.
Lee’s optimism comes as the Senate Agriculture and Banking committees are expected to hold hearings this month on a bill on the structure of the crypto market, providing guardrails for the industry.
“Crypto has really taken a hit [in] “October of last year, so we think if we allow more time between now and then, we’re going to see a pretty big recovery,” Lee said.