Shares of Bitmine Immersion Technologies are skyrocketing due to $250 million private placement offering and Ethereum strategy

From Yahoo Finance: 2025-07-01 10:55:00

Bitmine announced a $250 million private placement offering and plans to implement an Ethereum treasury strategy. They named Tom Lee, a well-known Wall Street strategist, as chairman of the board. Bitmine’s stock surged nearly 50%, continuing its rise after the announcement. Lee believes Ethereum could be the next big thing, with stablecoins driving growth. Since the private placement, Bitmine’s stock has skyrocketed 1,048%. Lee advocates for Ethereum but cautions against crypto-treasury investments for retail investors. The Motley Fool does not recommend Bitmine stock and suggests looking at other potential high-return stocks. The Motley Fool also disclosed positions in Bitcoin and Ethereum.

Read more: Why Shares of Bitmine Immersion Technologies Are Skyrocketing Today