Shares of Bitmine Immersion Technologies Inc (NYSE:BMNR) are trading higher Wednesday afternoon as momentum builds across digital asset markets. The stock is catching a bid as Bitcoin (CRYPTO: BTC) trades above $68,500 and Ethereum (CRYPTO: ETH) approaches $2,100.
Here’s what investors need to know.
BitMine Immersion shares are powering higher. Why is BMNR stock up today?
Management Update & Treasury Expansion
In an update on Monday, Bitmine management announced that the company’s combined treasury of crypto, cash and strategic investments reached $11.4 billion. The company now holds 5.82 million ETH tokens, representing 4.8% of the global Ethereum supply, with 5.07 million staked ETH. Bitmine also has a total of 210 Bitcoin.
