Bitmine To Invest $200m In Youtuber Mrbeast’s Beast Industries - Full Analysis

BitMine Immersion Technology will invest $200 million in MrBeast’s Beast Industries, linking crypto capital with the world’s largest creator platform.

BitMine Immersion Technology has agreed to invest $200 million in Beast Industries, the entertainment company founded by YouTube star Jimmy Donaldson, better known as MrBeast, in a deal that marks one of BitMine’s largest non-core equity investments to date.

BitMine will make a $200 million equity investment into Beast Industries, the company announced on Thursday.

“MrBeast and Beast Industries, in our view, is the leading content creator of our generation, with a reach and engagement unmatched with GenZ, GenAlpha and Millennials,” said Thomas Lee, the chairman of BitMine. “Beast Industries is the largest and most innovative creator based platform in the world and our corporate and personal values are strongly aligned.”

The company did not disclose the size of the stake BitMine will acquire, the valuation of Beast Industries or any governance rights tied to the investment

The companies said the deal is expected to close on Monday.

As part of the deal with BitMine, Beast Industries will explore ways to incorporate decentralized finance (DeFi) in its planned financial services platform, said Jeffrey Housenbold, the CEO of Beast Industries.

The companies have not disclosed any product details, timelines or regulatory framework for the proposed platform, and said no DeFi product has been finalized.

Cointelegraph reached out to BitMine and Beast Industries for comment on the specifics of the deal and the upcoming DeFi integration, but had not received a response by publication.

Related: Sharplink pockets $33M from Ether staking, deploys another $170M ETH

Source: CoinTelegraph