The media platform founded by Jimmy Donaldson, known as the popular YouTuber MrBeast, is drawing a $200 million investment from Bitmine Immersion Technologies
, the world’s leading Ethereum treasury company.
The Bitmine investment in Beast Industries is designed to back a digital outlet that has more than 450 million subscribers and attracts more than 5 billion monthly views. The deal closes on or about Jan. 19.
“It’s our view that Ethereum, which is a smart contract platform, is the future of finance, where digitalization of not only dollars but stocks and equities [are] going to take place,” Bitmine Chairman Tom Lee said on CNBC’s “Squawk Box” on Thursday. “Over time, that really blurs what is a service versus what’s digital money, and that’s where a collaboration and investment into Beast Industries makes sense.”
Alongside Tom Lee, who also serves as head of research at Fundstrat Global Advisors, key investors in Bitmine include ARK’s Cathie Wood, Bill Miller III and Galaxy Digital
