BMNR Stock Surges on Massive Ethereum Holdings and $4B Buyback
BitMine Immersion Technologies Inc. (BMNR) has been on a tear lately, climbing by 3.95% in recent trading days.
The company's stock price surged as investors bet on its massive Ethereum holdings and a $4B share repurchase program.
According to reports, BitMine Immersion now controls around 5.8M ETH, making it the dominant component of its $11.3-$11.8B balance of crypto, cash, and strategic investments.
The company has staked more than 4.9M coins via its MAVAN platform, turning a static treasury into a yield engine, with projected annualized staking revenues of $254-$299M.