The company announced plans to increase its holdings of the cryptocurrency by selling up to $20 billion in stock.

Led by investor Tom Lee, Bitmine announced on Monday that its holdings of Ethereum are worth $4.96 billion, which is slightly more than 1.15 million tokens, meaning the company holds about 1% of the total circulating supply of Ethereum.

The company's goal is to acquire 5% of the globally circulating Ethereum tokens. Monday's news drove Bitmine's stock price up over 14%. So far this year, the stock has risen over 750%#BTC☀️ #BTC🔥🔥🔥🔥🔥