Bitmine’s Switch From Ether to MrBeast

Investors who own shares of Bitmine, which last year turned itself into a holding company for ether tokens, woke up to some surprising news today. Bitmine is investing $200 million in Beast Industries, the company of MrBeast, the No.1 YouTuber. He’s known for making viral videos, not for his interest in ether. 

The investment is what you might call Bitmine’s latest pivot. Originally founded as a bitcoin miner, Bitmine decided to go all in on ether last year and appointed Tom Lee, chief investment officer at Fundstrat Capital, as its chair. It was one of several companies that turned themselves into crypto holding firms during the crypto rally of mid-2025. Following in the footsteps of Michael Saylor’s Strategy—which a few years ago turned itself from an enterprise software firm into a giant bitcoin investor—Bitmine and others have spent all their money buying crypto assets. Bitmine has acquired 4.2 million ether tokens, worth $13.7 billion, paid mostly through money raised by issuing shares.