Bitmine (BMNR) Climbs 15% as Firm Hits 2-Million ETH Milestone

We recently published 10 Stocks with Surprising Gains. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) is one of the best performers on Friday.

Bitmine extended its winning streak to a fifth consecutive day on Friday, adding 15.28 percent to end at $55.09 apiece after raising its Ethereum ownership to $9.21 billion and setting sights on the Worldcoin token.

In a statement, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said it was able to surpass the 2 million ETH milestone last week, bringing its total ownership to 2.07 million ETH at an average price of $4,312 apiece.

Bitmine (BMNR) Climbs 15% as Firm Hits 2-Million ETH Milestone

It also holds 192 Bitcoins and unencumbered cash of $266 million.

Additionally, it recently invested $20 million in Eightco Holdings Inc. (NASDAQ: OCTO) to support the latter’s acquisition of Worldcoins (WLD) as its primary treasury asset.

Worldcoin, an ERC-20 token, captures a zero-knowledge proof of a person’s humanity, a critical asset in an increasingly agentic-AI world.

“BitMine wants to support and back innovative projects that create value for the Ethereum ecosystem. As an ERC-20 native token, World is aligned with Ethereum. World’s unique zero-knowledge Proof of Human credential could be essential to future trust and safety between technology platforms and the billions of human users,” said Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee.

“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum,” he added.

While we acknowledge the risk and potential of BMNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BMNR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.