Why Bitmine Immersion Technologies Stock Was Crushing it This Week

An operational update, combined with the Federal Reserve's (Fed) quarter-point rate cut, was helping drive Bitmine Immersion Technologies's (NYSEMKT: BMNR) stock higher over the past few trading days. According to data compiled by S&P Global Market Intelligence, the shares were climbing 5% higher week-to-date in mid-session trading on Friday.The Fed's rate slice, announced following the wrap-up of its Federal Open Market Committee's December meeting, was largely anticipated by market players. Nevertheless, as lower rates generally support cryptocurrency prices, that also applies to crypto "treasury" companies like Bitmine. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool