BMNR Stock Soars 1,200% As BitMine Becomes the “MicroStrategy of Ethereum”

Quick overview

BitMine Immersion Technologies (BMNR) stunned the market with a meteoric one-day rally as investors cheered its bold new Ethereum-focused treasury strategy.

BitMine Shares Deliver an Astonishing One-Day Rally

Shares of BitMine Immersion Technologies, Inc. (BMNR) recorded one of the most spectacular one-day moves seen on the NYSE American platform in recent memory.

The stock closed the regular trading session at $33.90, already reflecting a massive intraday gain. But the buying frenzy continued into after-hours trading, pushing BMNR as high as $48.36 at one point—a staggering rise of nearly 1,200% in a single day.

BNMR Stock Chart Daily – The Surge Continues After Hours

This kind of explosive move is rare even in the volatile world of small-cap tech, and it has made BitMine one of the most talked-about tickers on the exchange this week.

Catalyst: $250 Million Ethereum-Linked Treasury Placement

The extraordinary rally followed BitMine’s announcement of a $250 million private treasury placement directly tied to Ethereum.

According to the company’s statement, BitMine will raise roughly $250 million by privately placing 55,555,556 new shares at $4.50 each. The proceeds will be used to purchase Ethereum (ETH), which will then serve as the company’s primary treasury reserve asset.

This strategy represents a significant pivot toward blockchain-based financial management. It builds on BitMine’s earlier move on June 9, 2025, when the company made its first ETH purchase, signaling the start of a diversification plan for its treasury.

Investors Embrace the Crypto-Treasury Model

The BMNR weekly chart reveals that buying pressure had already been building before Monday’s open but accelerated dramatically throughout the session.

This reflects not just a one-day speculative pop, but strong, sustained demand as traders and investors react to the company’s pivot toward a crypto-based balance sheet strategy.

Many see the move as an echo of MicroStrategy’s famous Bitcoin-buying playbook—but for Ethereum. By placing ETH at the center of its treasury reserves, BitMine aims to enable protocol-level integration with blockchain systems, potentially unlocking new payment and settlement opportunities.

Leadership News Adds Fuel to the Rally

Further adding to the bullish momentum was the appointment of Tom Lee, head of research at Fundstrat and a well-known crypto bull, as BitMine’s new Chairman of the Board.

In remarks following his appointment, Lee emphasized Ethereum’s role as the backbone of stablecoin settlement networks and its potential for driving mainstream crypto adoption.

He also outlined an ambitious vision for BitMine, suggesting that the amount of ETH held per share will become a key performance metric for the company—underscoring its commitment to integrating Ethereum as a core strategic asset.

“We want to make BitMine Immersion stock the ‘MicroStrategy of Ethereum’,” Lee said, framing the move as a bold bet on ETH’s long-term value and utility.

Conclusion: BitMine’s remarkable price action underscores the growing investor appetite for companies willing to embrace digital assets in a meaningful, treasury-level way. While critics warn of extreme volatility and dilution risk, supporters argue the move positions BMNR as a trailblazer in crypto-financial integration—potentially transforming it from a niche mining player into a high-profile Ethereum proxy for equity markets.

The days ahead will reveal whether the company can turn this initial investor euphoria into a sustainable strategy that delivers lasting value for shareholders.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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