BitMine Shares Surge 2,150% After Ethereum Treasury Strategy Announcement


#BitMine Immersion Technologies shares skyrocketed to $135, marking a 2,150% increase since naming Fundstrat co-founder Tom Lee as board chair.


The company's stock was halted twice on Thursday as trading volume surged following the $ETH treasury strategy reveal.


Lee believes BitMine will accumulate $ETH before a stablecoin boom drives institutional demand for the asset.


The strategy anticipates major banks like JPMorgan and Goldman Sachs will begin staking $ETH to secure billions in new dollar-pegged tokens.


BitMine raised $250 million through private placement with investors including Peter Thiel's Founders Fund and Pantera Capital.


Private placement investors paid $4.50 per share but cannot sell their holdings until SEC registration becomes effective.


The company plans to maximize shareholder value by growing its $ETH holdings per share through #staking and #DeFi protocols.

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July 03, 2025 at 11:13 PM
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