BitMine invests in Mr. Beast

Bitmine (BMNR), the ETH-focused treasury company, announced today that it will invest $200 million into Beast Industries, the entertainment and consumer products company founded by the #1 YouTuber in the world. The deal comes as BitMine continues to scale its ETH treasury strategy, where it holds over 4 million ETH, currently worth over $13 billion. Read more →

In other news, Bitmine recently rolled out one of the goofiest investor presentations we’ve seen from a pubco in a while. There sure is a lot going on here for just a ETH treasury company.

In a surprise move, Senator Tim Scott, the Chair of the Senate Banking Committee, postponed the vote that was scheduled for last night on the new Clarity Act. The delay primarily stemmed from the fact that Coinbase (COIN) – the strongest and most influential political voice – announced that they were pulling their support of the bill. The company’s concerns stemmed from four main areas – the treatment of tokenized equities, DeFi issues, provisions that he said would "kill rewards on stablecoins," and the role of the SEC.

Project Eleven, a startup building tools to help secure crypto networks against emerging threats from quantum computing, just raised a $20 million Series A at a $120 million post-money valuation, led by Nic Carter’s Castle Island Ventures. Carter is also joining the board – a classic skin in the game moment given how vocal he’s been about quantum risk (read his entire series on it here) to public blockchains. It’s most interesting live product is called Yellowpages, which lets Bitcoin holders generate post-quantum keys today as a forward-commitment and a way to prove ownership in a post–“Q-Day” world. Read more →

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