BitMine invests $200 million in MrBeast to build a DeFi platform and other financial products
Plans by YouTube’s biggest creator MrBeast to launch a DeFi platform are becoming more tangible after BitMine invested $200 million in Beast Industries.
BitMine Immersion Technology said on Thursday that it is investing $200 million in Beast Industries, the entertainment company founded by YouTube star Jimmy Donaldson, better known as MrBeast. The deal represents one of BitMine’s largest equity investments to date.
Donaldson runs a network of YouTube channels that collectively have more than 450 million subscribers, according to publicly available data, making it the largest audience on the video platform.
The size of the stake BitMine will acquire in Beast Industries, as well as details related to governance rights, were not disclosed. However, according to Business Insider, Beast Industries generated $400 million in revenue in 2024.
“In our view, MrBeast and Beast Industries are the leading content creators of our generation, with unmatched reach and engagement among Gen Z, Gen Alpha, and Millennials,” said Thomas Lee, chairman of BitMine. “Beast Industries is the largest and most innovative creator platform in the world, and our corporate and personal values are closely aligned.”
Expanding beyond YouTube
MrBeast and his channels have repeatedly promoted cryptocurrencies, and last year Donaldson registered the trademark “MrBeast Financial” for cryptocurrency trading, payment processing, as well as banking and insurance services.
As part of the deal with BitMine, Beast Industries will explore ways to integrate decentralized finance (DeFi) into its planned financial services platform, said Jeffrey Housenbold, CEO of Beast Industries.
The companies did not disclose any details regarding the product, timeline, or regulatory framework of the proposed platform and stated that no DeFi product has yet been finalized. However, in December, during The New York Times DealBook Summit, Housenbold announced upcoming launches of Beast Mobile, a telecom company, and a financial services platform focused on improving financial literacy and providing access to global information.
As we wrote, MrBeast plans `MrBeast Financial` app for crypto and banking
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