Key Points
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Bitmine stock rocketed higher earlier in today’s trading, but it’s given up some of its gains.
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The company’s share price is up today thanks to news that the company is planning to sell an additional $20 billion worth of stock to buy Ethereum.
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Bitmine has seen huge valuation gains since the end of June, and its latest stock sale plans brings the total value of its planned offerings to $24.5 billion.
Bitmine Immersion Technologies(NYSEMKT: BMNR) stock is surging in Tuesday’s trading following news of a major strategic move. The Ethereum-focused crypto holding company’s share price was up 4.4% as of 12:40 p.m. ET. Meanwhile, Ethereum was up 2.9% over the previous 24 hours of trading. Bitmine had been up as much as 11.9% earlier in trading.
Bitmine’s valuation is rocketing higher today following an announcement that the company will be issuing $20 billion in new stock and using the proceeds to buy Ethereum. While the new stock…
