BitMine Stock Rises as Ethereum Rally Boosts Value

BitMine's stock experienced a significant increase of nearly 14% on March 16, climbing to over $23. According to NS3.AI, this surge followed a weekend rally in Ethereum, which had previously left BitMine's stock trailing behind its exposure to ETH. BitMine reportedly holds 4.6 million ETH, valued at approximately $11.5 billion. The recent stock movement is seen as a catch-up trade rather than an arbitrary spike.