Bitmine Immersion Technologies (NYSE:BMNR) surged 7.5% to $20.91 after buying 71,252 ETH last week—the fastest pace since December—as the stock uplists to NYSE on April 9.
The Accumulation Blitz
Chairman Tom Lee framed the buying as a bet that Ethereum is in “the final stages of the mini-crypto winter.”
Total crypto and cash holdings now stand at $11.4 billion, including $864 million in cash, 198 BTC, and stakes in Beast Industries and Eightco Holdings (NASDAQ:ORBS).
The ORBS position gives Bitmine one of the only publicly listed exposures to OpenAI.
Bitmine now owns 3.98% of Ethereum’s 120.7 million circulating supply, putting it 79% of the way to its “Alchemy of 5%” target in just nine months. The company remains the largest …Full story available on Benzinga.com
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