BitMine’s ETH Bet Fuels 3,000% Weekly Surge in BMNR Stock

Quick overview

BitMine Immersion Technologies stunned Wall Street this week with a radical Ethereum-focused treasury strategy that sent its stock soaring over 3,000% in just days.

BitMine Immersion Technologies Unleashes Massive Rally on Ethereum Treasury Plan

BitMine Immersion Technologies (NYSE American: BMNR) delivered one of the wildest price moves seen on the exchange in recent memory, as investors cheered its dramatic pivot to an Ethereum-centric treasury strategy.

BMNR Stock Chart Daily – The Surge Continues

It all started Monday with a jaw-dropping single-day surge. Shares opened around $4 and closed the regular session at $33.90—a monumental intraday rally that caught traders off guard. But the frenzy didn’t stop there. In after-hours trading, the stock rocketed past $50 at one point, marking an astonishing ~1,200% one-day gain.

A Bold Ethereum Bet Led by Wall Street Veterans

Driving the frenzy was BitMine’s announcement of a $250 million private placement designed to “stack ether” as part of its corporate reserves. The company also surprised markets by naming Fundstrat’s well-known strategist Tom Lee as Chairman.

Lee didn’t hold back in describing the move, declaring:

“We intend to establish BitMine Immersion stock as the ‘MicroStrategy of Ethereum.’”

The move is a clear nod to Michael Saylor’s strategy of using MicroStrategy’s balance sheet to buy Bitcoin aggressively over the last several years. BitMine is hoping to do something similar with Ethereum, aiming to leverage ETH’s role in the emerging blockchain ecosystem for payment and settlement infrastructure.

Heavy-Hitting Crypto Backers Fuel the Momentum

Adding to the hype were big-name participants in the $250 million raise, including Pantera Capital and Galaxy Digital. These firms have a history of supporting high-profile public-market crypto treasury moves, and their involvement lent significant credibility to BitMine’s plan.

Trading momentum stayed hot after Monday’s fireworks. On Tuesday, the stock briefly traded as high as $74 before pulling back into the close. Wednesday saw buying resume in earnest, and by Thursday the stock hit an intraday high of $156 before settling slightly lower near $135.

Despite some late-session and after-hours selling—likely profit-taking after such dizzying gains—BMNR remained firmly above $115 late in the day. Even with volatility, that’s more than 100% higher than Wednesday’s $57 close and represents an overall weekly gain of over 3,200%.

BMNR Stock Chart Weekly – Beyond a One-Day Pop: Real Strategy or Hype?

Market observers are debating whether BitMine’s dramatic run is simply another speculative crypto frenzy or something more sustainable.

Unlike many short-lived “meme stock” moves, there is some genuine strategic vision behind this surge. By prioritizing ETH in its reserves, BitMine is betting on Ethereum’s long-term utility for programmable finance, DeFi protocols, and settlement use cases that go far beyond mere speculative holding.

The company has signaled it wants to integrate deeply at the protocol level, potentially opening new payment and settlement channels that could drive real business value over time.

A Holiday Pause, But Eyes on What Comes Next

With US markets closed early for the July 4 holiday, trading volume slowed heading into the long weekend. But the fireworks in BMNR were hard to ignore.

Even with after-hours weakness, BitMine’s stock remains far above its pre-announcement levels. Traders will be watching closely next week to see if the rally can sustain—or if the massive speculative move will quickly unwind once liquidity returns.

For now, BitMine’s bold Ethereum pivot has given it the kind of market attention most small-cap companies can only dream of, while also fueling debates about how crypto can reshape corporate balance sheets in the years ahead.

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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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