Why BitMine Immersion Technologies Stock Is Jumping Today

BitMine Immersion (NYSEMKT: BMNR) is posting another day of big gains Monday. The share price was up 3.4% as of 3 p.m. ET. Ethereum's token price was down roughly 0.2% over the previous 24 hours at the same point in the same day's trading. The stock had been up as much as 45.2% earlier today.

BitMine stock rocketed higher today after the company announced that it had made a $500 million investment in Ethereum. While the company's share price has pulled back significantly from the high reached earlier in the day's trading, it's still seeing strong gains in the session.

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Source Fool.com