Crypto firm Bitmine set to surge on pivot to ethereum treasury, new chair

BitMine Immersion Technologies

01/07/2025 13:58

** Shares of crypto firm Bitmine Immersion Technologies BMNR.A surge 40.5% to $47.6 premarket

** Co on Monday announced $250 million private placement to initiate ethereum treasury strategy; Thomas Lee to serve as chairman

** Shares surged almost 700% to its highest since June 2023 on Monday, adding more than $180 mln in market cap, according to data compiled by LSEG

** BMNR is the #2 trending ticker on retail investor forum and social media platform Stocktwits on Tuesday

** As of Monday's close, stock has more than quadrupled in value YTD with a market cap of $208.8 mln

 (Reporting by Shashwat Chauhan in Bengaluru)

 ((Shashwat.Chauhan@thomsonreuters.com))