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Benzinga
Benzinga
Business
Adam Eckert

BitMine Immersion Technologies Stock Is Soaring: What's Going On?

BitMine Ethereum Tom Lee
Closeup,Of,Golden,Ethereum,Cryptocurrency,Surrounded,By,More,Coins,And

BitMine Immersion Technologies Inc (AMEX:BMNR) shares are trading higher Monday after the company provided an update on its Ethereum (CRYPTO: ETH) treasury strategy.

What Happened: BitMine announced that it’s now holding a total of $163,142 ETH, the native cryptocurrency of the Ethereum blockchain. The company said its total holdings are now valued at more than $500 million, which is more than 100% of the company’s PIPE proceeds.

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