1 week ago
BitMine Immersion Technology (BMNR), the bitcoin miner turned ether (ETH) treasury nether Fundstrat's Tom Lee's leadership, said it added astir $2 cardinal of tokens implicit the past week, bringing full holdings to adjacent $5 billion.
Bitmine's ETH stash exceeded 1.15 cardinal tokens arsenic of Sunday evening, up from 833,137 the week before.
BMNR shares were up implicit 10% pre-market astatine $57, extending Friday's astir 25% advance.
The steadfast added that its banal has go 1 of the astir traded successful the U.S. marketplace averaging $2.2 cardinal successful regular trading measurement past week. That ranks BMNR 25th among U.S.-listed firms, topping slope elephantine JPMorgan (JPM) and chipmaker Micron Technology (MU).
"We are starring crypto treasury peers by some the velocity of raising crypto NAV [net plus value] per stock and by the precocious trading liquidity of our stock," Chairman Tom Lee said.
Bitmine pursues a strategy to accumulate ETH and involvement tokens for a yield, competing with rivals specified arsenic SharpLink Gaming (SBET) and others. The steadfast yet aims to get 5% of the full ETH supply, valued astatine implicit $25 cardinal astatine existent marketplace prices.
The buying frenzy by integer plus treasury companies helped ETH rally to caller rhythm highs, topping $4,300 implicit the weekend.
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