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Crypto

Bitmine Immersion Technologies' Stock Surges on Strong Ethereum Holdings and Staking Growth

Guavy AI Editorial Team
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ETH
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Bitmine Immersion Technologies' stock surged by 8.6% in morning trading after releasing its latest Ethereum holdings update, confirming 5.93 million ETH tokens and total crypto plus cash holdings of $15.7 billion.

The company's growing staking income visibility was also highlighted, with annualized staking revenue projected to reach approximately $386 million at full deployment.

Cantor analysts upgraded crypto plays broadly, while B. Riley raised its price target on BMNR to $30 from $25 just over a week ago, keeping a Buy rating on the shares.

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