Bitmine Immersion Technologies (BMNR) shares rose more than 10% in recent Wednesday trading after the company increased the size of its at-the-market common stock offering to $24.5 billion from $4.5 billion, according to a Securities and Exchange Commission filing.

The company initially launched the program on July 9 with a capacity of $2 billion, and later expanded it to $4.5 billion on July 24. The latest increase adds $20 billion in potential share sales under the existing sales agreement.

Net proceeds are expected to be used for general corporate purposes, including funding working capital and advancing the company's strategy related to Ethereum.

Price: 68.76, Change: +6.32, Percent Change: +10.12