Latest news with #MicroStrategyofEthereum
CNBC
3 days ago
- Business
- CNBC
This crypto treasury firm is vying to be the MicroStrategy of ether–but with a focus on generating yield
The latest crypto treasury company is set to hit the public market with an ambitious plan to build the largest public vehicle for institutional exposure to ether. The Ether Machine will begin trading on the Nasdaq Monday under the ticker ETHM, once a merger with blank check company Dynamix Corporation is complete. Andrew Keys, the co-founder and chairman of the new company, has committed about $645 million in an anchor investment. The entity is backed by crypto investors 10T Holdings, Electric Capital, Pantera Capital and more. The company is the latest in an emerging cohort of new entities vying to become the MicroStrategy of Ethereum by replicating the bitcoin proxy's successful accumulation strategy, but around ether, the second largest cryptocurrency by market cap, rather than bitcoin. Keys' company plans to differentiate with a focus on yield generation through "staking" rather than simply buying and holding the ether. Staking is a mechanism for generating yield by contributing to network operations around security and transaction processing. By purchasing ether from a crypto exchange or buying shares of an ether ETF, investors would get exposure to the coin's price, "but without access to the dividend," Keys explained. "Ether produces yield if it's properly managed," he told CNBC's "Squawk Box" Monday. "The ETFs right now don't generate yield because they don't enable staking … we're able to enable staking and we're able to do other additional risk management on top of that." On Thursday, BlackRock filed with the SEC to include staking to its popular ETHA ether ETF, which just logged a record week of inflows. The ability to stake makes ether a "more productive" asset than bitcoin, according to Keys. The Bitcoin network "has one asset on it, bitcoin, that can be moved from peer to peer, but Ethereum can tokenize any asset," Keys said. It's "able to embed any type of digital asset – a bar of gold, a barrel of oil, a stock, a bond, a derivative – into digital legal agreements, and in doing so, you're able to expedite the velocity of money. You can have employment contracts that get paid by the minute, as an example." Shares of Dynamix jumped 30% in premarket trading. The Ether Machine follows Bitmine Immersion Technologies – the company newly chaired by Fundstrat's Tom Lee and more recently backed by Peter Thiel – in its ether treasury ambitions. Pantera was also a backer of Bitmine. Also this year, SharpLink Gaming, whose board is chaired by Ethereum co-founder Joe Lubin, also initiated an ETH treasury strategy; and Bit Digital recently exited bitcoin mining to focus on its ETH treasury and staking plans. Ether has taken the spotlight in crypto from bitcoin in recent months as investors anticipated the stablecoin bill known as the GENIUS Act would be signed into the first major U.S. crypto law, which President Trump did Friday. The regulatory clarity should benefit institutions and brands becoming more interested in tokenization, which includes stablecoins, most of which are issued on the Ethereum network. Ether has doubled in the last three months and last week, ether ETFs posted a record $2.18 billion in weekly inflows.
Economic Times
07-07-2025
- Business
- Economic Times
Bitmine goes parabolic: 1,000% surge tied to massive Ethereum move and Tom Lee's entry
BitMine Immersion stock explodes 1,000% after $250M Ethereum move and Tom Lee's appointment, turning the small miner into a top crypto headline. Investors call it the MicroStrategy of Ethereum. BitMine Immersion Technologies Inc. (BMNR) shocked Wall Street with a 1,000% surge in a single day. The cryptocurrency mining company, previously trading under the radar, suddenly caught massive investor attention after two major announcements: a $250 million Ethereum purchase plan and the appointment of Tom Lee—a well-known crypto bull—as its Chairman. The sudden rise of BitMine's stock has quickly made it one of the hottest trending tickers on platforms like Yahoo Finance and Finviz. It's not just another meme stock rally—there's a big strategic pivot behind the price explosion. On June 30, BitMine Immersion Technologies (BMNR) revealed that it had secured commitments to raise $250 million through a private placement. The funds, according to company filings, would be used to buy Ethereum (ETH) as part of a bold new strategy to hold ETH as a primary treasury reserve asset. This plan instantly drew comparisons to MicroStrategy's well-known Bitcoin strategy, where the company famously bet billions on BTC. Now, BitMine seems to be positioning itself as the MicroStrategy of Ethereum. The stock, which had been trading quietly below $5, exploded to nearly $48 intraday, according to Yahoo Finance. That's a 1,000%+ intraday gain. Over the course of just a week, the shares are up more than 2,450%, putting BMNR at the center of crypto market speculation. The company's open price on July 3 was just $57.28, and by midday on July 7, the stock had reached $135, with over 1.6 million shares traded—a massive jump compared to its usual daily volume. BitMine's move to convert a huge amount of capital into Ethereum signals a sharp pivot from being just a crypto miner to becoming an ETH-focused holding company. The decision comes at a time when Ethereum is gaining renewed attention thanks to staking rewards, layer-2 development, and increased institutional interest. By aligning itself with ETH, BitMine isn't just betting on crypto—it's betting on the infrastructure of Web3. This Ethereum reserve strategy, inspired by how some companies treat Bitcoin, is rare. While Bitcoin has seen adoption as a treasury asset by firms like MicroStrategy and Tesla, Ethereum has not received the same corporate embrace—until now. If BitMine follows through and accumulates $250 million worth of ETH, it could become one of the largest corporate Ethereum holders globally, according to reports from FX Leaders. Another major catalyst behind the rally is the addition of Tom Lee as the new Chairman of the Board. Lee is well-known in crypto and financial circles for his bullish stance on Bitcoin and Ethereum. He co-founded Fundstrat Global Advisors and has long advocated for digital assets as part of modern investment portfolios. His appointment added serious credibility to BitMine's strategic shift. Investors now believe the company has the leadership needed to navigate the highly volatile crypto space. According to Finviz, Lee's entry could attract more institutional investors and potentially even venture capital, further fueling the momentum. The heart of BitMine's rally is its decision to raise $250 million through a private placement to buy Ethereum (ETH). The company stated it will begin treating Ethereum as its primary treasury reserve asset, much like MicroStrategy did with Bitcoin. This shift puts BMNR at the center of Ethereum-focused investment plays, a move that has excited crypto bulls. Ethereum's ongoing growth in staking yields, stablecoin utility, and DeFi adoption makes it an appealing treasury choice for many investors. According to BitMine aims to capitalize on Ethereum's long-term upside and become a publicly traded proxy for ETH exposure. This strategy mirrors how MicroStrategy positioned itself as a leveraged Bitcoin vehicle. On top of its Ethereum pivot, Tom Lee, co-founder of Fundstrat Global Advisors and a well-known crypto advocate, joined BitMine's board as Chairman. Lee's bullish stance on digital assets has made him a key voice in the space, and his appointment was viewed as a massive credibility boost. As reported by Lee's endorsement gave legitimacy to BitMine's new direction, reassuring investors and bringing new attention to the stock. Many believe Lee's influence will help attract institutional interest and long-term capital—something crucial for a company attempting such a bold transition. The numbers speak volumes. BitMine's stock was trading at just $3.92 within the last 12 months. On July 3, it hit an intraday high of $161.00, before pulling back to close at $135.00. The intraday range was between $100.76 and $133.25, showing how volatile the trading has become. Open: $57.28 Close: $135.00 Volume: 1.6 million shares 1-week change: +2,450% 1-day gain (July 3): +133.06% This type of movement is rare, especially for a company with a market cap in the micro-cap category and just 7 employees on record. Still, speculative momentum and strategic shifts have made BMNR one of the most talked-about tickers on platforms like Finviz and the rally is eye-catching, there are real risks involved. BitMine is still a micro-cap company, with just 7 employees and relatively limited operational history. The company has also been operating at a loss, with reported net margins of –77%, which raises questions about although a bold ETH strategy sounds good on paper, Ethereum is still a highly volatile asset. A market downturn could wipe out large chunks of BitMine's new treasury in such parabolic moves often attract short-term traders and speculators, which could lead to increased volatility and sharp pullbacks. Still, with the crypto market heating up again, many retail and institutional players are hunting for the next big crypto-linked stock. BitMine might have just tapped into that demand by making Ethereum its flagship asset. Despite the excitement, BitMine faces serious financial and operational risks: Financial losses: BitMine's last reported net margin was –77%, highlighting deep unprofitability. High dilution risk: Raising $250 million through private placement could dilute existing shareholders significantly. Liquidity concerns: As a micro-cap stock, BMNR is highly sensitive to market swings, and liquidity can vanish quickly. Execution risk: Converting into a treasury-focused ETH entity requires expertise, and any missteps could shake investor confidence. As noted by BitMine's surge may also reflect short-term speculative mania. Stocks that move over 1,000% in a week often experience sharp corrections. BitMine Immersion Technologies (BMNR) is now one of the most volatile and discussed crypto-adjacent stocks on the market. Its pivot to Ethereum as a treasury asset is bold and unique. Add Tom Lee's involvement, and it's easy to see why investors are paying attention. Still, potential investors should proceed with caution. The company's fundamentals remain weak, and the rally has outpaced any confirmed revenue growth or stability. For those bullish on Ethereum's long-term rise, BMNR might offer a speculative route—but only with an appetite for extreme volatility and high risk. Q1: What caused BitMine Immersion Technologies stock to surge? The stock soared after announcing a $250M Ethereum treasury plan and adding Tom Lee as Chairman. Q2: Is BitMine stock a good Ethereum investment? It's a high-risk way to gain ETH exposure through public markets but carries major volatility.
Time of India
07-07-2025
- Business
- Time of India
Bitmine goes parabolic: 1,000% surge tied to massive Ethereum move and Tom Lee's entry
BitMine Immersion stock skyrocketed by over 1,000% in a single day after revealing a bold $250 million Ethereum investment and naming crypto bull Tom Lee as Chairman. The sudden surge made BMNR one of the most talked-about crypto stocks in 2025. As BitMine pivots from mining to becoming a major Ethereum treasury holder, investors are calling it the "MicroStrategy of Ethereum". With Lee's leadership and a strategic ETH bet, BitMine is rewriting the playbook. Tired of too many ads? Remove Ads Why did BitMine's stock surge over 1,000% in one day? Tired of too many ads? Remove Ads How does Ethereum fit into BitMine's long-term strategy? What does Tom Lee bring to BitMine Immersion Technologies? Tired of too many ads? Remove Ads Why is BitMine suddenly buying Ethereum with $250 million? How did Tom Lee's entry boost BitMine's credibility? How big was the BMNR stock rally, and how does it compare to past moves? Open: $57.28 Close: $135.00 Volume: 1.6 million shares 1-week change: +2,450% 1-day gain (July 3): +133.06% Should investors be cautious despite the 1,000% run? What risks should investors keep in mind before jumping in? Financial losses: BitMine's last reported net margin was –77%, highlighting deep unprofitability. High dilution risk: Raising $250 million through private placement could dilute existing shareholders significantly. Liquidity concerns: As a micro-cap stock, BMNR is highly sensitive to market swings, and liquidity can vanish quickly. Execution risk: Converting into a treasury-focused ETH entity requires expertise, and any missteps could shake investor confidence. Is BMNR a bold Ethereum bet or just another bubble? FAQs: BitMine Immersion Technologies Inc. (BMNR) shocked Wall Street with a 1,000% surge in a single day. The cryptocurrency mining company, previously trading under the radar, suddenly caught massive investor attention after two major announcements: a $250 million Ethereum purchase plan and the appointment of Tom Lee—a well-known crypto bull—as its sudden rise of BitMine's stock has quickly made it one of the hottest trending tickers on platforms like Yahoo Finance and Finviz. It's not just another meme stock rally—there's a big strategic pivot behind the price June 30, BitMine Immersion Technologies (BMNR) revealed that it had secured commitments to raise $250 million through a private placement. The funds, according to company filings, would be used to buy Ethereum (ETH) as part of a bold new strategy to hold ETH as a primary treasury reserve plan instantly drew comparisons to MicroStrategy's well-known Bitcoin strategy, where the company famously bet billions on BTC. Now, BitMine seems to be positioning itself as the MicroStrategy of stock, which had been trading quietly below $5, exploded to nearly $48 intraday, according to Yahoo Finance. That's a 1,000%+ intraday gain. Over the course of just a week, the shares are up more than 2,450%, putting BMNR at the center of crypto market company's open price on July 3 was just $57.28, and by midday on July 7, the stock had reached $135, with over 1.6 million shares traded—a massive jump compared to its usual daily move to convert a huge amount of capital into Ethereum signals a sharp pivot from being just a crypto miner to becoming an ETH-focused holding decision comes at a time when Ethereum is gaining renewed attention thanks to staking rewards, layer-2 development, and increased institutional interest. By aligning itself with ETH, BitMine isn't just betting on crypto—it's betting on the infrastructure of Ethereum reserve strategy, inspired by how some companies treat Bitcoin, is rare. While Bitcoin has seen adoption as a treasury asset by firms like MicroStrategy and Tesla, Ethereum has not received the same corporate embrace—until BitMine follows through and accumulates $250 million worth of ETH, it could becomeglobally, according to reports from FX major catalyst behind the rally is the addition of Tom Lee as the new Chairman of the Board. Lee is well-known in crypto and financial circles for his bullish stance on Bitcoin and Ethereum. He co-founded Fundstrat Global Advisors and has long advocated for digital assets as part of modern investment appointment added serious credibility to BitMine's strategic shift. Investors now believe the company has the leadership needed to navigate the highly volatile crypto to Finviz, Lee's entry could attract more institutional investors and potentially even venture capital, further fueling the heart of BitMine's rally is its decision to raise $250 million through a private placement to buy Ethereum (ETH). The company stated it will begin treating Ethereum as its primary treasury reserve asset, much like MicroStrategy did with Bitcoin. This shift puts BMNR at the center of Ethereum-focused investment plays, a move that has excited crypto ongoing growth in staking yields, stablecoin utility, and DeFi adoption makes it an appealing treasury choice for many investors. According to BitMine aims to capitalize on Ethereum's long-term upside and become a publicly traded proxy for ETH exposure. This strategy mirrors how MicroStrategy positioned itself as a leveraged Bitcoin top of its Ethereum pivot, Tom Lee, co-founder of Fundstrat Global Advisors and a well-known crypto advocate, joined BitMine's board as Chairman. Lee's bullish stance on digital assets has made him a key voice in the space, and his appointment was viewed as a massive credibility reported by Lee's endorsement gave legitimacy to BitMine's new direction, reassuring investors and bringing new attention to the stock. Many believe Lee's influence will help attract institutional interest and long-term capital—something crucial for a company attempting such a bold numbers speak volumes. BitMine's stock was trading at just $3.92 within the last 12 months. On July 3, it hit an intraday high of $161.00, before pulling back to close at $135.00. The intraday range was between $100.76 and $133.25, showing how volatile the trading has type of movement is rare, especially for a company with a market cap in the micro-cap category and just 7 employees on record. Still, speculative momentum and strategic shifts have made BMNR one of the most talked-about tickers on platforms like Finviz and the rally is eye-catching, there are real risks involved. BitMine is still a micro-cap company, with just 7 employees and relatively limited operational history. The company has also been operating at a loss, with reported net margins of –77%, which raises questions about although a bold ETH strategy sounds good on paper, Ethereum is still a highly volatile asset. A market downturn could wipe out large chunks of BitMine's new treasury in such parabolic moves often attract short-term traders and speculators, which could lead to increased volatility and sharp with the crypto market heating up again, many retail and institutional players are hunting for the next big crypto-linked stock. BitMine might have just tapped into that demand by making Ethereum its flagship the excitement, BitMine faces serious financial and operational risks:As noted by BitMine's surge may also reflect short-term speculative mania. Stocks that move over 1,000% in a week often experience sharp Immersion Technologies (BMNR) is now one of the most volatile and discussed crypto-adjacent stocks on the market. Its pivot to Ethereum as a treasury asset is bold and unique. Add Tom Lee's involvement, and it's easy to see why investors are paying potential investors should proceed with caution. The company's fundamentals remain weak, and the rally has outpaced any confirmed revenue growth or stability. For those bullish on Ethereum's long-term rise, BMNR might offer a speculative route—but only with an appetite for extreme volatility and high stock soared after announcing a $250M Ethereum treasury plan and adding Tom Lee as a high-risk way to gain ETH exposure through public markets but carries major volatility.
