BitMine Immersion Technologies Inc. (NYSE:BMNR) stock rose more than 5% in Monday’s premarket trading as cryptocurrency prices climbed and the company disclosed a larger Ethereum treasury.
Bitcoin (CRYPTO: BTC) jumped 5.5% over the past 24 hours to $85,262.62. Ethereum (CRYPTO: ETH) gained 5.9% to $2,728.49.
Broader market sentiment was also positive. Nasdaq futures rose 0.93%, while S&P 500 futures gained 0.65%.
BitMine Ethereum Holdings Approach 6 Million Tokens
BitMine said Monday that its Ethereum holdings reached 5,983,940 tokens as of Sept. 20.
At an Ethereum price of $2,688, the position represented about 4.9% of the cryptocurrency’s 122.1 million-token supply.
The company reported $17.1 billion in total crypto, cash, marketable securities and other investments. That included 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings Inc. (NASDAQ:ORBS).
BitMine said it has staked 5.07 million Ethereum tokens worth about $13.6 billion. That represents roughly 85% of its Ethereum holdings.
The company estimated annualized staking revenue of about $357 million. Its seven-day annualized staking yield was 2.62%.
Chairman Tom Lee said BitMine acquired another 27,562 Ethereum tokens during the past week. He also said he expects institutional crypto exposure to increase during the final quarter of 2026.
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Technical Analysis
BMNR remains above its major moving averages despite signs that near-term momentum has cooled.
At Monday’s premarket price, the stock was about 12% above its 20-day simple moving average of $24.48 and roughly 24% above its 200-day average of $22.08.
However, MACD remains below its signal line, while the histogram is negative. That suggests recent upside momentum has weakened.
Resistance sits near $30.50. Support is around $23, close to key moving-average levels.
The stock remains well below its 52-week high of $65.60, despite rebounding sharply from its June low of $12.80.
ETF Exposure
BMNR is held by several crypto-focused funds, including the Corgi Crypto Infrastructure ETF (NASDAQ:BLCK), Bitwise Crypto Industry Innovators ETF (NYSE:BITQ) and Global X Blockchain ETF (NASDAQ:BKCH).
Price Action
BMNR Stock Price Activity: BitMine shares rose 5.19% to $27.34 in Monday’s premarket trading, according to Benzinga Pro data.
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