BMNR in the US stock market rose by more than 250%, after announcing a $250 million financing to implement the ETH reserve strategy

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On June 30, according to market data, the US stock Bitmine Immersion Technologies, Inc. (BMNR) rose by over 250%, reaching a high of $15.76.

BlockBeats previously reported that Bitmine announced earlier today the completion of a large private placement financing of $250 million, issuing 55,555,556 shares at a price of $4.50 per share. BitMine plans to use the raised funds primarily to increase its holdings of Ethereum (ETH), intending to make it a core reserve asset, while continuing to maintain its main Bitcoin mining business.

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