BitMine Immersion Technologies, a publicly traded crypto firm, has committed $200 million to support a new financial platform initiative from YouTube creator MrBeast. The announcement was made on Thursday.
The investment will back the platform's development of on-chain financial products. These are expected to include DeFi integrations that leverage BitMine's Ethereum treasury and MrBeast's audience of over 200 million subscribers.
BitMine's treasury currently holds 4.16 million ETH. The $200 million commitment is described as one of the largest publicly disclosed investments by a listed crypto company into a consumer fintech or creator-economy project.
Jeff Housenbold, CEO of Beast Industries, stated that the firm would explore ways to "incorporate DeFi into our upcoming financial services platform."
The news coincided with broader market activity. Major cryptocurrencies were trading lower, with Bitcoin at $95,400 and Ethereum at $3,310. Meanwhile, the GAS token surged 700% to a market value of $42 million.
In other corporate treasury news, Bitcoin ETFs recorded $100 million in net inflows on Thursday, while Ethereum ETFs saw $164 million. The token for the project Kaito fell sharply after a policy change on the X platform restricted API access to certain projects.
Separately, two solo Bitcoin miners each won block rewards worth nearly $300,000. The Bank of America's CEO commented that interest-bearing stablecoins could potentially shift trillions of dollars away from traditional bank deposits.