Key Points
Bit Digital, Inc., an immersive technology company, announced this Thursday that it will invest $200 million in Beast Industries, founded by the influencer "MrBeast." The transaction is expected to be completed around January 19.
The media platform, founded by the renowned YouTuber "MrBeast" (Jimmy Donaldson), has secured a $200 million investment from Bit Digital, Inc., a global leader in Ethereum reserves. This investment by Bit Digital into Beast Industries aims to support the growth of this digital media platform, which boasts over 450 million subscribers and exceeds 5 billion monthly views. The deal is anticipated to be finalized around January 19. Tom Lee, Chairman of Bit Digital, stated on CNBC's "Squawk Box" this Thursday: "In our view, Ethereum, as a smart contract platform, represents the future of finance. Not only will the dollar become digital, but so will various securities like stocks. Over time, the lines between services and digital currencies will increasingly blur, which is the core reason we chose to partner with and invest in Beast Industries." Besides Tom Lee (who also serves as Head of Research at Fundstrat Global Advisors), Bit Digital's major investors include Cathie Wood of ARK Invest, Bill Miller III, and Galaxy Digital. Lee added: "I believe this is an inevitable trend in the evolution of digital platforms and digital currencies. This collaboration essentially connects the world's number one content creator with the world's largest Ethereum platform." Following the announcement, Bit Digital's stock price rose over 1% in Thursday's pre-market trading. Since the beginning of the year, the company's stock has surged more than 20%, significantly outperforming the S&P 500's 1% gain over the same period. Regarding the broader cryptocurrency market, Lee expressed optimism for both Bitcoin and Ethereum. He predicts Bitcoin will reach a new all-time high in 2026, while Ethereum is expected to perform even more impressively, potentially outpacing Bitcoin's gains this year. Lee's positive outlook on the crypto market is bolstered by plans from the U.S. Senate Committee on Agriculture and the Committee on Banking to hold hearings this month to review a market structure bill that would provide a regulatory framework for the cryptocurrency industry. Lee stated: "The cryptocurrency market was hit hard last October. We believe that over time, the market will experience a strong recovery."
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