Shares of BitMine Immersion surged about 25% on Friday, reaching an intraday high near $52 and extending their weekly gain to roughly 50%. The move continued a rally that began earlier in the week and pushed the little-followed crypto-mining stock to its highest level since listing. The advance coincided with Ether’s jump to about $4,000 and market talk that BitMine is building a sizeable Ether treasury. Fundstrat Global Advisors co-founder Tom Lee told reporters the company has been buying large quantities of the cryptocurrency over-the-counter to avoid driving up spot prices, a strategy some analysts say mirrors MicroStrategy’s Bitcoin accumulation playbook. Social-media posts also pointed to demand from billionaire investor Stanley Druckenmiller, though his involvement could not be independently confirmed. BitMine has not commented publicly on any Ether purchases or share-price moves. The combination of a rising crypto market and expectations of a corporate Ether bet continued to draw momentum-hungry traders into the stock.