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BitMine Immersion Soars 130% on $250 Million Ethereum Treasury Plan

14 posts • OpenAI (o3)

Updated Jul 3, 2025, 10:52 PM

BitMine Immersion Corp. surged as much as 130% to roughly $147 in New York trading on Wednesday before being halted for volatility, extending an extraordinary rally that has lifted the little-known crypto-focused stock about 30-fold in less than a week.

The move follows BitMine’s 27 June disclosure that it intends to establish a $250 million Ethereum-denominated treasury, a strategy publicly championed by Fundstrat Global Advisors co-founder Tom Lee. The plan, announced as Bitcoin and Ether prices edge higher, has ignited speculative interest and forced short sellers to cover positions.

More than $3.8 billion worth of BitMine shares changed hands on Wednesday, according to consolidated tape data—volumes that rival larger-capitalisation names and underscore the renewed appetite for crypto-linked equities. The frenzy has spilled into other digital-asset proxies such as MicroStrategy and Bitcoin exchange-traded products, reviving talk of a new ‘alt-season’ in the stock market.

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