The media company founded by Jimmy Donaldson — widely known as YouTube star MrBeast — is set to receive a $200 million investment from Bitmine Immersion Technologies, the world’s leading ethereum treasury company.
Bitmine’s investment in Beast Industries aims to support a digital platform with more than 450 million subscribers and over 5 billion monthly views. The deal is expected to close on or around 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 Thursday on CNBC’s “Squawk Box.” “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.”
Along with Lee — who also serves as head of research at Fundstrat Global Advisors — major Bitmine investors include ARK’s Cathie Wood, Bill Miller III, and Galaxy Digital.
“I think it’s part of the sort of evolution of digital platforms and money, and I think it’s really uniting the No. 1 creator in the world with the biggest ethereum platform in the world,” Lee added.
Bitmine shares rose more than 1% in premarket trading Thursday following the announcement. The stock has already jumped over 20% since the start of the year, far outpacing the S&P 500’s 1% gain.
Looking at the broader cryptocurrency landscape, Lee remains optimistic about both bitcoin and ethereum, predicting bitcoin will hit a new all-time high in 2026. He is even more confident in ethereum, expecting it to outperform bitcoin this year.
His bullish outlook comes as the Senate Agriculture and Banking committees are set to hold hearings later this month on a crypto market structure bill aimed at establishing clearer guardrails for the industry.
“Crypto really got hurt [in] October last year, so it is our view that we’re going to have a pretty big recovery as we put more time between that moment,” Lee said.
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