BitMine Surges 14% After Hours As Ethereum Holdings Top $1 Billion Just Days After $250 Million Raise
BitMine Immersion Technologies Inc. (AMEX:BMNR) surged 14.11% in after-hours trading on Thursday, reaching $47.81 per share as the company’s Ethereum (CRYPTO: ETH) holdings crossed the $1 billion threshold following its recent pivot to an ETH treasury strategy.
What Happened: The Las Vegas-based company filed an 8-K with the Securities and Exchange Commission on Thursday, announcing its current ETH holdings position. BitMine recently closed a $250 million private placement and now holds 163,142 ETH tokens, worth approximately $1.18 billion at current prices.
The stock has gained 423.75% year-to-date, transforming from a market cap of $25.86 million in early 2025 to approximately $2.16 billion as of Thursday’s close. Thursday’s regular session saw shares close at $41.90, down 6.47% before the after-hours surge.
Fundstrat‘s Tom Lee, who recently became chairman …
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