Bitmine pledges $200 million to MrBeast’s Beast Industries as “MrBeast Financial” files trademark for crypto payments, exchanges and DeFi-focused financial services.
Summary
- Bitmine plans a $200 million investment in Beast Industries, calling MrBeast’s empire the largest creator platform and a great gateway to younger crypto users.
- Beast Industries has filed a trademark ‘MrBeast Financial’ that covers crypto payments, exchange services and decentralized trading, still in early USPTO review.
- MrBeast faces unproven accusations of profiting from SuperVerse and other tokens, but his audience and Beast Industries’ valuation remain resilient with institutional support.
Tom Lee’s Bitmine announced a $200 million investment in Beast Industries, the business entity behind YouTube creator MrBeast. The deal is expected to close on January 19, according to company statements.
Beast Industries has filed a trademark application with the U.S. Patent and Trademark Office for “MrBeast Financial,” which covers crypto payment processing, exchange services and decentralized trading, according to public records. Jeff Housenbold, CEO of Beast Industries, stated that the company is exploring ways to integrate decentralized finance into an upcoming financial services platform.
MrBeast and Tom Lee go all-in
Lee described Beast Industries as “the largest and most innovative creator-based platform in the world” with significant reach among younger demographics. MrBeast’s main YouTube channel has hundreds of millions of subscribers.
The investment comes months after cryptocurrency researcher Coffeezilla released a video examining MrBeast’s cryptocurrency activities in November. The video presented allegations that MrBeast generated more than $10 million from SuperVerse after purchasing tokens for $100,000 during the presale, and then allegedly promoted and sold the token during unlock periods.
Coffeezilla cited leaked screenshots between MrBeast and the SuperVerse founder, along with wallet analysis that traced tokens to addresses allegedly connected to the YouTuber. The investigation also examined MrBeast’s involvement in PMON, STACK, Ethernity and XCAD – projects where the creator allegedly benefited from promotional activities.
A MrBeast representative told Coffeezilla that the investments were managed by a fund of industry experts and claimed full compliance with regulations. The representative stated that MrBeast does not personally own or control the wallet in question.
Separate blockchain analysts claimed in October that MrBeast controls more than 50 crypto wallets that reportedly generated $23 million through various schemes. None of these allegations have been proven in court.
Bitmine describes itself as a leading Ethereum treasury company with a goal of acquiring 5% of Ethereum’s total supply. According to company information, the company’s backers include Cathie Wood’s ARK, Founders Fund, Bill Miller III, Pantera Capital, Kraken, DCG and Galaxy Digital.
The company trades on NYSE American and positions itself as implementing digital asset strategies for institutional investors.
According to USPTO records, the MrBeast Financial trademark application is still in its early stages and has not been assigned to an examiner. Trademark applications do not guarantee product launches.
If Beast Industries launches a crypto platform aimed at MrBeast’s audience, it could serve as an entry point for younger users entering digital assets, according to industry observers. The investment ties institutional capital to a creator whose cryptocurrency history includes unproven allegations of insider trading and pump-and-dump schemes.
MrBeast’s content, which includes viral stunts and philanthropic giveaways, has built an audience that industry analysts say warrants nine-figure investments. Beast Industries operates as a media company with multiple revenue streams beyond advertising.
MrBeast’s audience has not declined significantly following the cryptocurrency allegations or workplace harassment findings from a study conducted earlier this year by attorney Alex Spiro, according to public statistics.
Bitmine held its annual shareholder meeting at the Wynn Las Vegas on Thursday.
