Dominari Holdings Inc. Advances into Bitcoin Mining with Strategic Moves

On May 13, 2025, Dominari Holdings Inc., a company primarily known for its biotechnology development efforts in treating various forms of cancer, made significant strides into the cryptocurrency sector. The company, listed on Nasdaq and operating in the financials sector under professional services, has been actively pursuing opportunities in Bitcoin mining.

Strategic Fusion and Nasdaq Debut

Dominari Holdings has been instrumental in advancing the Bitcoin mining industry through a strategic merger. The company supported the Nasdaq debut of American Bitcoin, which entered into a definitive merger agreement with Gryphon Digital Mining, Inc. (Nasdaq: GRYP). This stock-for-stock transaction is set to establish American Bitcoin as a publicly traded entity on Nasdaq. The merger aims to create the world’s largest and most efficient pure-play Bitcoin mining operation, complemented by a robust Bitcoin reserve.

Market and Financial Overview

As of May 8, 2025, Dominari Holdings’ stock closed at $5.99, with a 52-week high of $13.5799 and a low of $0.8258. The company’s market capitalization stands at $74.68 million. Despite a negative price-to-earnings ratio of -2.11, Dominari’s strategic moves into Bitcoin mining indicate a potential shift in its business model and revenue streams.

Underwriting Role in IPO

In addition to its ventures in Bitcoin mining, Dominari Holdings played a significant role as an underwriter in the IPO of Kandal M. Venture Ltd. (FMFC). Scheduled for May 16, 2025, the IPO aims to raise $9 million, with the company issuing 2,000,000 shares priced between $4.00 and $5.00 each. Over the past year, Kandal M. Venture Ltd. generated $14 million in revenue and $1.1 million in net income, with a market cap of $81 million.

These strategic initiatives highlight Dominari Holdings’ diversification efforts beyond its traditional biotechnology focus, positioning itself as a key player in the evolving cryptocurrency landscape.