BitMine Immersion Technologies Inc (AMEX:BMNR) shares are trending Tuesday. The company released an investor presentation for August a provided an update on its crypto holdings.
What Happened: BitMine announced a new investor presentation deck on its website titled “the Alchemy of 5%” and monthly video series called “The Chairman’s Message.” The series will be hosted by Fundstrat’s Tom Lee and is aimed at providing insights into the company’s Ethereum (CRYPTO: ETH) strategy.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum,” Lee said.
BitMine also announced on Tuesday that it now has total crypto and cash holdings of $8.98 billion. As of Aug. 31, BitMine held a total of approximately 1.87 million ETH and $635 million in cash.
Ethereum was down 2.84% over a 24-hour period, trading at approximately $4,276 at the time of publication on Tuesday.
How To Buy BMNR Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in BitMine Immersion's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
BMNR Price Action: BitMine shares were down 2.9% at $42.37 at the time of publication on Tuesday, according to Benzinga Pro.
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