That’s what Bitmine Immersion Technologies shares were Stopped twice On Thursday, the company’s stock price skyrocketed for the third day in a row after an early announcement of its Ethereum financial strategy.
Stock stopped shortly after 11am ET and stopped again soon after.
Bitmine shares closed at $135 on Thursday, up 130%, but fell to $118 in after-hours trading. Yahoo Finance. The company has risen nearly 1,900% from $6 on Monday since the company announced that FundStrat founder and CIO Tom Lee has been appointed chairman of the board.
Lee, frequently appearing on CNBC, I said This week, we’ll be with the “Squawk Box,” where Bitmine accumulates Ethereum before Stablecoin Boom crystallizes demand for assets.
There is a regulatory framework for stablecoins Inching towards the aisle of Capitol Hill, he said there is a good chance that major banks like JP Morgan and Goldman Sachs will start Staking A large amount of assets as a way to protect networks and billions of dollars newly issued dollar peg tokens.
“We’re trying to get to that before that by creating a financial vehicle,” he said.
Working Bitmine Bitcoin Mining facilities in Texas and Trinidad are press release On Monday, it raised $250 million. Through private placementsPeter Thiel’s Founders Fund, Crypto Venture Capital Farm Pantera, Crypto Prime Broker Falconax, Crypto Conglomerate Digital Currency Group and Lee.
The transaction included buying and selling of 55 million shares at $4.50 each. As of Thursday, Bitmine had a float of 1.4 million shares, indicating that while investors who participated in the private placement had increased significantly on paper, they still couldn’t trade the stock.
Ethereum Treasury Firm Sharplink Gaming Stock I plunged in 70% of the time of application for a share registration was deemed valid by the US Securities and Exchange Commission. Soon after that, Solana’s Ministry of Finance’s Upexi stock crater Regarding similar submissions.
Bitmine’s privately owned placement shares will not be offered or sold in accordance with an effective registration statement or applicable exemption,” a press release on Monday said.
Reflecting the goals of most cryptocurrency companies, Bitmine is seeking to maximize shareholder value in this case by increasing the amount of digital assets it owns per share. Bitmine pointed out on Monday that it has access to staking, Decentralized financeor defi.
Lee isn’t the only familiar face of CNBC. That’s what Jack Mullers, founder of Strike reading Anthony Pipriano, an entrepreneur in social media personality, has as tethered Bitcoin purchase company Twenty One Ceo Created Procap Financial, another Bitcoin finance company.
Edited by James Rubin