MrBeast Eyes DeFi as Tom Lee's Ethereum Treasury BitMine Invests $200 Million
BitMine Immersion Technologies, chaired by Tom Lee, has announced a $200 million investment in Beast Industries, the company behind MrBeast, YouTuber Jimmy Donaldson. Beast Industries manages MrBeast’s merchandise, including the Feastables snack brand, and aims to be a leading creator-based platform. The investment is set to close within a week. Beast Industries CEO Jeff Housenbold said the firm will explore integrating decentralized finance (DeFi) into its upcoming financial services. BitMine is the largest corporate Ethereum holder, with $13 billion in assets, but its stock has dropped 21% over six months amid weakening crypto investor sentiment. Beast Industries recently sought trademarks for crypto and financial services. MrBeast has prior involvement in crypto, including NFT purchases and digital-asset-based gaming promotions. The impact of BitMine’s investment on its core Ethereum-focused operations remains unclear. The move continues BitMine’s “moonshot” investment strategy, following a $20 million stake in Eightco Holdings earlier this year.
