Bitmine Immersion Technologies Inc. (NYSE:BMNR) stock surged Friday, tracking strength in Ethereum (CRYPTO: ETH) prices and renewed institutional accumulation, including a sizable position increase by Charles Schwab Corp.

Ethereum traded at $2,029.96, up 4.24% over 24 hours and 2.36% over seven days, with a market cap of $245 billion and trading volume of $21.9 billion.

Charles Schwab Increases Holdings

Charles Schwab reported in its 13F-HR filing on Wednesday that it increased its Bitmine holdings from 1,712,780 shares to 2,732,761 shares, representing a 59.55% increase in its position.

Technical Analysis

Currently, BitMine is trading 16.1% below its 20-day simple moving average (SMA) and…

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