The New York Stock Exchange's U.S. subsidiary listed company BitMine (BMNR) sold approximately 55.55 million shares of common stock at a price of $4.50 per share through At-The-Market (ATM), raising $250 million to purchase Ethereum, becoming another Ethereum version of Strategy (MSTR).

After the announcement, BitMine (BMNR) surged by 260%, with the stock price reaching a high of $15.5.

There are many Ethereum versions of Strategy (MSTR), and BitMine (BMNR) and SharpLink Gaming (SBET) are considered relatively pure, mainly characterized by having a significant number of investors who are pure crypto players.

The major backer behind BitMine (BMNR) is MOZAYYX, with other participating institutions including Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, DCG, and other pure crypto players.

Especially, the second-largest exchange in the U.S., Kraken, has also entered the scene.