Crypto
BMNR Soars on Massive Ethereum Bet
BMNR shares have surged by 10.96% after BitMine Immersion Technologies disclosed its massive Ethereum bet, holding approximately 5.77-5.78M ETH worth around $4.8 billion, accounting for about 4.8% of the total ETH supply.
The company's MAVAN platform has already staked roughly 4.9M ETH, projecting annualized staking revenues of $242M-$290M once its ETH treasury is fully staked.
BitMine Immersion executed a 5.5M-share repurchase under a multi-billion-dollar share buyback program and was added to the Russell 1000 index.