BMNR Stock Soars on Massive Ethereum Treasury and Staking Revenue

BitMine Immersion Technologies Inc.'s (BMNR) stock has been on a rollercoaster ride, surging by 5.98% in recent trading sessions.

The rally is largely attributed to the company's massive Ethereum treasury, which now totals $11.4B-$11.8B, making up around 4.8% of the entire Ethereum supply.

BMNR has also staked over 5M ETH through its MAVAN platform, generating an estimated annualized revenue of $254M-$299M.

The company's aggressive share repurchase plan, which has already retired 19.1M-20.8M common shares, has tightened the float and signaled strong internal confidence in the stock.