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Ethereum Rebound Fuels BitMine's 8% Rally

Guavy AI Editorial Team
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BitMine (BMNR) stock surged 8% on Friday to $25.77, driven by Ethereum's rebound and options frenzy.

Ethereum rose 4.62% to around $2,558, providing a direct boost to BitMine, which holds a significant stash of the crypto asset.

The company earns staking rewards from its Ethereum holdings alongside its mining operations.

Eightco Holdings, backed by BitMine, disclosed total assets of approximately $380 million on Thursday, including a $90 million indirect investment in OpenAI and over 301 million Worldcoin tokens valued at 37 cents each.

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