Why Shares of Bitmine Immersion Technologies Are Skyrocketing Today

Shares of the Bitcoin mining company Bitmine Immersion Technologies (NYSEMKT: BMNR) had blasted nearly 50% higher as of 10:41 a.m. ET today. The stock continued its impressive run this week after the company announced yesterday that it would pursue an Ethereum treasury strategy.Bitmine announced yesterday that it had raised $250 million in a private placement offering that it will use to purchase Ethereum, following a similar strategy initially implemented by Strategy (formerly MicroStrategy) with Bitcoin. The transaction was led by MOZAYYX and also included participation from the Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee, the founder of Fundstrat and a contributor on CNBC.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool