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Director Lee Thomas Jong reported purchasing shares of BITMINE IMMERSION TECHNOLOGIES, INC. NASDAQ:BMNR common stock on July 9, 2025. The transactions, both purchases, amounted to a total of $1.99 million. The timing is notable as the stock has experienced significant volatility, dropping 62% in the past week despite showing strong returns over longer periods. According to InvestingPro, BMNR currently has a market capitalization of $1.66 billion.
Jong acquired 222,222 shares directly at a price of $4.50, totaling $999,999. Additionally, Jong indirectly acquired 222,222 shares through the Thomas J Lee 2012 Trust, also at $4.50, totaling $999,999. The purchase price represents a significant discount to the current trading price of $41.02. InvestingPro analysis reveals 12 additional investment tips for BMNR, helping investors make more informed decisions about this volatile stock.
In other recent news, BitMine Immersion (NASDAQ:IMMR) Technologies announced that its Ethereum holdings have surpassed $500 million, following a $250 million private placement that closed on July 9. The company now holds 163,142 ETH, valued at approximately $3,072.67 per ETH. This development is part of BitMine’s strategy to increase its stake in the Ethereum network. Additionally, BitMine has entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and ThinkEquity LLC, allowing the company to sell up to $2 billion of its common stock. The agreement provides flexibility, as BitMine is not obligated to sell any shares and may suspend or terminate the offering at any time. This move follows the company’s strategic decision to adopt Ethereum as its primary treasury reserve asset, funded by the recent private placement. BitMine CEO Jonathan Bates emphasized the goal of building a significant ETH treasury to enhance shareholder returns. The company’s operations continue in Trinidad and Texas, focusing on cryptocurrency accumulation for long-term investment.
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