Bitmine (BMNR) Soars 15%, Mimics ETH Jump

We recently published 10 Stocks Powering Into 2026 With Explosive Gains. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) is one of the top performers on Friday.

Bitmine Immersion snapped two days of losses on Friday, surging 14.88 percent to finish at $31.19 apiece as investors took heart from higher Ethereum prices during the session, while digesting the company’s calls to approve a plan to raise its authorized capital stock to 50 billion.

As of writing, prices of Ethereum were up by 4.09 percent at $3,123.16 apiece, tracking the rally on Bitcoin and marking the first trading day of the year strongly.

Ethereum

Photo by Nick Chong on Unsplash

In other news, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) sought the approval of its shareholders for its planned authorized capital stock hike to 50 billion from 500 million at present.

In a video message, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee said that the capital stock hike would allow the company to conduct more capital market activities, provide flexibility to pursue opportunistic deals, and enable the implementation of future stock splits.

Shareholders have until January 14 to vote before the company holds its annual stockholders’ meeting on January 15.

“The company believes Ethereum represents the future of finance, a supercycle driven by Wall Street reengineering on the blockchain. Major industry leaders agree, including Larry Fink, CEO of BlackRock, who said that tokenization is the next evolution of global markets. And the vast majority of tokenization is happening on Ethereum,” Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said.

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