BitMine Stock Is Trading Higher Monday: What's Going On?

BitMine Immersion Technologies, Inc. (AMEX:BMNR) shares are trading higher Monday after the company said its ETH holdings now exceed $2.9 billion, making it the largest Ethereum treasury in the world and the third-largest crypto treasury overall, behind only MicroStrategy Incorporated (NASDAQ:MSTR) and MARA Holding, Inc. (NASDAQ:MARA). The company launched its ETH Treasury strategy on June 30 and completed the initial phase on July 8.

Investor Bill Miller III, senior advisor to Miller Value Partners, has taken a significant stake in the company, joining a group of institutional backers including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.

BitMine now ranks as the 42nd most liquid U.S. stock by daily trading volume, averaging $1.6 billion per day over the past five sessions, according to Fundstrat.

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BMNR Price Action: At the time of writing, BitMine stock is trading 1.01% higher at $32.00, according to data from Benzinga Pro.

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