BitMine (BMNR) Stock Surges 13% as Bitcoin Tops $68,000

TLDR

• BMNR stock jumped 13% to $20.72 Wednesday as Bitcoin surged past $68,000 for the first time in months
• BitMine holds 5.82 million ETH tokens, representing 4.8% of the global Ethereum supply
• The company’s combined treasury of crypto, cash and strategic investments reached $11.4 billion
• BitMine repurchased 1.7 million common shares last week, bringing total buybacks to over 20.8 million
• Despite Wednesday’s rally, BMNR remains down 33% year to date

BitMine Immersion Technologies (BMNR) surged 13% to $20.72 on Wednesday as Bitcoin climbed back above $68,000 for the first time in months, pulling crypto-linked stocks sharply higher across the board.

Bitmine Immersion Technologies, Inc., BMNR

Bitcoin traded at $68,500, up 6% in 24 hours. Ethereum hit $2,089. The move lifted Strategy (MSTR) 13% to $104.72 and Coinbase (COIN) 11% to $162.88.

No single company catalyst triggered the rally. The move appears to be a rebound off summer lows, possibly supported by the SEC’s proposed “Regulation Crypto Assets” framework.

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