BMNR Stock Gains Alongside Ethereum After Tom Lee's BitMine Makes One Of Its Smallest Ethereum Purchases Ever

Key Summary

BitMine Immersion Technologies (BMNR) stock rose alongside Ethereum's price after the company made its smallest Ethereum purchase in nearly eight weeks, buying 15,112 ETH worth approximately $41 million. This purchase increased holdings to 6.02 million tokens, or 4.9% of Ethereum's supply, as the company has staked 5.07 million ETH overall and projects $363 million in annual staking revenue.