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The stock price of a U.S. mining company surged over 250%, announcing a financing of $250 million and implementing an Ethereum reserve strategy.
According to Gate News bot, market data shows that on June 30, the stock price of the American listed company Bitmine Immersion Technologies, Inc. (BMNR) rose more than 250%, reaching a high of $15.76.
The company announced earlier that it has completed a round of private financing amounting to $250 million, issuing 55,555,556 new shares at a price of $4.50 per share. Bitmine stated that the funds raised will primarily be used to increase its holdings of Ethereum (ETH) and will be treated as the company's core reserve asset. Meanwhile, the company will continue to maintain Bitcoin mining as its main business.