BitMine holds 163,000 ETH, and the stock price rose by 40% in a single day

ChainCatcher news, according to CoinDesk, BitMine Immersion Technologies (BMNR) disclosed that it holds 163,142 ETH (approximately $500 million), a significant increase from the $250 million raised through a private placement on July 9. As a result of this news, the company's stock price rose over 40% in a single day, currently reported at $4.88.

The company is led by Tom Lee of Fundstrat and employs a cryptocurrency reserve strategy similar to MicroStrategy. Data shows that the total amount of ETH reserves held by publicly listed companies and DAO organizations has reached 1.5 million.