Bitmine (BMNR) Soars 11% on Billion-Dollar Ethereum Ownership

We recently published 10 Stocks Investors Are Gobbling Up. Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) is one of the top performers on Monday.

Shares of Bitmine Immersion rallied for a fourth straight day on Monday, jumping 11.38 percent to close at $63.10 apiece following news that it has raised its ownership in Ethereum tokens to a total of $13.4 billion.

In a statement, Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) said it now holds more than 2.8 million units of Ethereum carrying an average price of $4,535, as compared with the token’s price of $4,697 as of writing, marking unrealized gains of over $458 million.

Bitmine (BMNR) Soars 11% on Billion-Dollar Ethereum Ownership

Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) remains the token’s largest treasury holder to date.

“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,” said Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee.

Apart from Ethereum, it also owns 192 Bitcoins, as well as indirect ownership in WorldCoins through a recent $113 million investment in Eightco Holdings Inc. (NASDAQ:ORBS).

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