Shares of the crypto miner have surged in recent weeks on the company's plan to start amassing ether in its corporate treasury.

Bitmine Immersion Technologies recently launched an ether buying strategy and named Fundstrat's Tom Lee chairman.

Ethereum Treasuries Boom as Companies Look Beyond Bitcoin in Hunt for New Crypto Growth- Ethereum treasuries are gaining momentum as more companies shift their focus away from Bitcoin to bet on the world’s second-largest cryptocurrency.