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BitMine Stock Soars After $250M Raise to Lead Ethereum Strategy
BitMine Immersion Technologies (BMNR) shares surged 88% to $63.48 in early trading on Tuesday, extending a remarkable 695% rally from the previous day, driven by the announcement of a $250 million private placement to fund a bold Ethereum (ETH) treasury strategy. The company, chaired by Fundstrat co-founder Tom Lee, sold 55.5 million shares at $4.50 each in a funding round backed by prominent investors, including Founders Fund, Pantera Capital, Galaxy Digital, and Kraken, with the deal set to close on July 3. This strategic pivot from Bitcoin (BTC) mining to accumulating Ethereum positions BitMine as a potential ... (full story)
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