Shares of Bitmine Immersion Technologies Inc BMNR are trading higher Thursday afternoon, extending recent gains following bullish commentary from Chairman and Fundstrat co-founder Tom Lee. The rally comes as BitMine solidifies its position as the world’s largest corporate Ethereum ETH/USD treasury.
What To Know: The company this week reported amassing $10.8 billion in digital assets, primarily driven by its holding of 2.15 million ETH, worth approximately $10 billion.
Lee has ignited investor optimism by predicting a “monster move” for the crypto market in the fourth-quarter and declaring that Ethereum is entering a “macro super cycle” for the next decade. He looks to position BitMine among the top treasury plays amid Wall Street’s accelerating shift toward blockchain-based finance.
The company’s strategy of staking its Ethereum holdings is also projected to generate hundreds of millions in annual income, further boosting investor confidence in its outlook.
Benzinga Edge Rankings: Underscoring the stock’s recent powerful price action, Benzinga Edge rankings show BMNR with an exceptionally high Momentum score of 99.37.
Price Action: According to data from Benzinga Pro, BMNR shares are trading higher by 4.74% to $59.78 Thursday afternoon. The stock has a 52-week high of $161.00 and a 52-week low of $1.93.
Read Also: Dogecoin, XRP Spot ETFs See Record First-Hour Trading Volumes As SEC Announces New Listing Standards
How To Buy BMNR Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in BitMine Immersion’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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