BitMine Immersion Technologies (NYSE:BMNR) invested $200 million into MrBeast’s Beast Industries as Chairman Tom Lee bets the YouTuber with 330 million subscribers will become “the most impactful entertainment brand in the world” while integrating crypto into a new financial services platform.
Why An Ethereum Company Is Betting On A YouTuber
BitMine is the world’s largest Ethereum (CRYPTO: ETH) treasury company, holding 4.17 million ETH worth roughly $13 billion.
The company’s entire strategy has been buying and holding Ethereum—so putting $200 million into a YouTube creator’s business marks a major shift.
Lee said Beast Industries has unmatched reach with Gen Z, Gen Alpha, and Millennials.
That matters for BitMine because MrBeast’s audience skews heavily toward younger demographics who are more comfortable with crypto than older generations.
Beast Industries CEO Jeff Housenbold specifically mentioned plans to “incorporate DeFi into our upcoming financial services platform.”
BitMine is betting MrBeast can introduce millions of young users to Ethereum-based financial products, with the deal closing around January 19.
BMNR Stock Attempts Bounce After 82% Crash
Price Prediction for BMNR
BMNR closed Tuesday at $31.74, up 4.61%, and trades up in premarket at $32.72.
The stock is attempting to break out after crashing 82% from June’s $140 peak to December’s $24.43 low.
The stock needs to break above $34 to flip short-term momentum bullish, targeting $36 and potentially $38-$40.
Breaking $34 would negate the descending triangle pattern that’s been pressuring the stock for months.
However, losing $31 support would retest the $29 zone, with further weakness targeting $27.50 and the critical $24.43 base. Also current tight consolidation suggests volatility is imminent.
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