Crypto
BitMine Stock Soars as Bitcoin Hits $68,000
BitMine (BMNR) stock surged 13% to $20.72 on Wednesday as Bitcoin climbed back above $68,000 for the first time in months.
The rally lifted crypto-linked stocks across the board, with Strategy (MSTR) jumping 13% to $104.72 and Coinbase (COIN) rising 11% to $162.88.
BitMine holds a significant position in Ethereum, holding 5.82 million ETH tokens, representing 4.8% of the global Ethereum supply.
The company's combined treasury of crypto, cash, and strategic investments has reached $11.4 billion, with management stating it is 96% of the way toward its goal of holding 5% of all ETH in circulation.