Bitmine (BMNR) Soars Anew as ETH Treasuru Raises to $8.3 Billion

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) is one of the best performers on Wednesday.

Bitmine snapped a four-day losing streak on Wednesday, adding 5.58 percent to close at $44.86 apiece as investors cheered its acquisition of additional Ethereum tokens, boosting its total ownership to $8.3 billion.

In an updated report on its website, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said it boosted its Ethereum treasury to $8.3 billion following the acquisition of an additional 153,075 units over the past 10 days.

“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” said Chairman Thomas Lee.

“Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum,” he added.

Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said it remains the largest Ethereum treasury holder in the world, owning 1.5 percent of the token’s total supply, and the second largest cryptocurrency holder globally, next to Bitcoin-focused Strategy Inc.

While we acknowledge the potential of BMNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.