BitMine Immersion Technologies has announced a $200 million investment in Beast Industries, the company founded by popular YouTuber Jimmy Donaldson (MrBeast).
The parties expect to close the deal around January 19.
Jeff Haugenbold, CEO of Beast Industries, stated that the new funds will help scale the business and strengthen its position as a leading entertainment brand. He also mentioned plans to collaborate on integrating DeFi tools into the upcoming financial services platform.
BitMine Chairman Tom Lee described Beast Industries as "the premier platform for content creators with a unique reach among Gen Z, Alpha generation, and millennials."
The company specializes in treasury management within Ethereum. BitMine is implementing a strategy to accumulate ETH through staking and DeFi protocols.
In the first quarter of 2026, the firm plans to launch its own validator network, MAVAN.
Buterin and Altman
Ethereum co-founder Vitalik Buterin and OpenAI CEO Sam Altman will attend the annual shareholder meeting of BitMine Immersion Technologies on January 15. Lee confirmed the guests' participation during a broadcast on the South Korean channel SamproTV.
A key agenda item will be voting on increasing the common stock issuance limit from 500 million to 50 billion. This will be the first meeting since the company's strategic shift: in June 2025, BitMine began acquiring Ethereum.
Lee explained the need for expanding the issuance: the firm is financing cryptocurrency purchases through the sale of securities.
"If you don't vote for increasing the number of shares, the company will stop growing. We want to create such a reserve that we never have to revisit this issue again," he stated.
As a reminder, on January 14, the share of ETH locked in staking reached a record 30%.