BMNR Stock Surges Amid BitMine's Major Private Financing

According to BlockBeats, BMNR shares have seen a significant increase, with the stock price rising by 440% to $23.04, marking a single-day gain of $18.78. Earlier today, BitMine announced the completion of a substantial private financing round, raising $250 million through the issuance of 55,555,556 shares at $4.50 each. BitMine plans to use the funds primarily to increase its holdings of Ethereum (ETH), aiming to establish it as a core reserve asset while continuing its main business of Bitcoin mining.