BMNR Stock Surges as BitMine Closes In on Ethereum Supply Goal
BitMine Immersion Technologies (BMNR) stock has continued its upward trend after adding another batch of Ethereum (ETH) to its treasury, bringing it closer to its goal of owning 5% of ETH's supply.
The company now holds approximately 5.85 million ETH, worth around $14.3 billion at current prices, representing about 4.8% of ETH's circulating supply and leaving it just 97% of the way towards its target.
BitMine's treasury also includes holdings in Bitcoin (210 BTC), cash and marketable securities ($308 million), as well as stakes in Beast Industries and Eightco Holdings, making the total value of its assets around $14.9 billion.
BMNR stock has caught up with the value of its underlying assets, trading at around $24.68 per share after a 2.24% gain during the session.