Bitmine invests $200 million in Beast Industries, the company run by the world’s No. 1 YouTuber
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Summary
- Bitmine, the world’s largest Ethereum (ETH) treasury company, said it will invest $200 million in Beast Industries, founded by MrBeast, the world’s top YouTuber.
- With Beast Industries estimated to be valued at $5 billion, the investment is expected to be finalized around the 19th.
- Beast Industries said it will explore additional collaboration with Bitmine to integrate decentralized finance (DeFi) into a financial services platform it plans to launch.
Bitmine, the world’s largest Ethereum (ETH) treasury company, has made a major investment in Beast Industries, a company founded by MrBeast, the world’s top YouTuber.
Bitmine said on the 15th (local time) that it will invest $200 million (about 300 billion won) in Beast Industries. The investment is expected to be finalized around the 19th.
Beast Industries is run by MrBeast, the YouTuber with the most subscribers globally. Beast Industries is estimated to be valued at $5 billion (about 7.35 trillion won).
“MrBeast and Beast Industries are the content creators of our generation,” said Tom Lee, chairman of Bitmine. “As the world’s largest and most innovative creator platform, Beast Industries strongly aligns with Bitmine’s values.”
Beast Industries also signaled plans to enter the decentralized finance (DeFi) market. Jeff Housenbold, chief executive officer (CEO) of Beast Industries, said, “We are very pleased to welcome Bitmine as a new investor,” adding, “We look forward to exploring more ways to collaborate (with Bitmine) and hope to integrate DeFi into the financial services platform we plan to launch.”
