Bitmine (BMNR) Soars 14.68% on New $5-Billion ETH Treasury

We recently published Wall Street Shockers: 10 Stocks on Fire. Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) is one of the best-performing stocks on Monday.

Bitmine Immersion extended its winning streak to a fifth consecutive day on Monday, jumping 14.68 percent to close at $58.98 apiece following news that it boosted its Ethereum treasury to nearly $5 billion.

This followed the acquisition of another 317,126 units, from the 833,137 previously, boosting its total ownership to more than 1.15 million, making Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) the largest ETH treasury in the world. The treasury carries an average price of $4,311 apiece.

“In just a week, BitMine increased its ETH holdings by $2.0 billion to $4.96 billion… lightning speed in the company’s pursuit of the ‘alchemy of 5 percent’ of ETH,” said Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee. “We are leading crypto treasury peers by both the velocity of raising crypto NAV (net asset value) per share and by the high trading liquidity of our stock.”

Bitmine (BMNR) Soars 14.68% on New $5-Billion ETH Treasury

bitcoin mining

The new round of acquisition followed the company’s $2.9 billion purchase of ETH earlier this month, as part of an ETH Treasury strategy announced on June 30.

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