Bitmine Immersion is planning to raise up to $24.5 billion from its common stock sales to purchase Ethereum (ETH), as indicated in a recent filing with federal regulators. The cryptocurrency mining company has already made $4.5 billion worth of its shares available at a price of $0.0001 each. Previously, the company had accumulated over $2 billion in Ethereum tokens. This significant increase in their fundraising efforts comes in response to a growing trend among publicly traded firms to establish Ethereum treasuries, which is believed to be influencing the cryptocurrency's price. Bitmine Immersion's shares recently saw a rise of 51% over the past month, highlighting the volatility and investment interest surrounding Ethereum.

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