The US stock BMNR closed this morning with a gain of over 694% and surged over 40% in after-hours trading.

BlockBeats News, July 1st, according to market data, the US stock Bitmine Immersion Technologies (BMNR) closed this morning with a surge of over 694%, and rose over 40% in after-hours trading, currently trading at $47.61.

BlockBeats previously reported that earlier today, Bitmine announced the completion of a $250 million large private placement, issuing 55,555,556 shares at a price of $4.50 per share. BitMine plans to use the raised funds mainly to increase its Ethereum (ETH) holdings, intending to use it as a core reserve asset, while continuing to maintain its Bitcoin mining core business.