BitMine Immersion Rides Fed Pivot Talk, Lifting Eth and BMNR Stock 15% to $55
BitMine Immersion Technologies has staged another dramatic comeback as Jerome Powell’s dovish comments and Ethereum’s rally reignited risk..
Quick overview
- BitMine Immersion Technologies has rebounded significantly following dovish comments from Fed Chair Jerome Powell and a rally in Ethereum.
- Investor sentiment has shifted towards risk assets, with markets anticipating rate cuts in 2025, boosting BMNR stock by over 14%.
- The company's substantial Ethereum holdings, now valued at approximately $6.6 billion, position it as one of the largest corporate crypto holders.
- Despite the positive momentum, the volatility in BMNR's stock price highlights the risks associated with its recovery.
BitMine Immersion Technologies has staged another dramatic comeback as Jerome Powell’s dovish comments and Ethereum’s rally reignited risk appetite in both crypto and equities.
Fed Boost Sparks Fresh Momentum
Following Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium, where he signaled that rate cuts could be on the horizon, investor sentiment shifted sharply toward risk assets. Markets are now anticipating two cuts in 2025, a prospect that lifted Ethereum by $500 and pushed BMNR stock up more than 14% on the day, reclaiming levels above $54.
Technical Picture and Price Action
BitMine shares have been extremely volatile this summer. The stock surged from under $5 to $161 in early July before collapsing back to $30, wiping out much of those gains. The 50-day simple moving average (yellow) acted as a stabilizing point, allowing for a rebound in early August that drove BMNR above $70. Recent weakness dragged the stock back below $50, but today’s Powell-driven rally suggests renewed buying interest. On the daily chart, the 20-day SMA (gray) is now offering higher support, a signal that momentum may be turning decisively upward despite ongoing volatility.
BMNR Chart Daily – Reviving the Uptrend
Ethereum Holdings Strengthen the Balance Sheet
A critical driver behind BitMine’s rebound is its massive Ethereum treasury. The company now holds 1.52 million ETH tokens, valued at roughly $6.6 billion—an increase of $1.7 billion over last week’s reported figures. This positioning makes BitMine one of the largest corporate crypto holders globally, trailing only Marathon Digital Holdings and Michael Saylor’s MicroStrategy. Supporters argue that the company’s ETH-based balance sheet provides a nimble, asset-light growth model, while critics highlight the inherent risk of heavy reliance on a single digital asset.
BMNR Chart Weekly – The 20 SMA Held As Support
Conclusion: A Recovery with Risks
BitMine Immersion Technologies is once again back in focus as a key beneficiary of improving macro sentiment and Ethereum’s renewed strength. The combination of dovish Fed signals, a rebound in digital assets, and the company’s deep ETH reserves has helped revive its stock price. Still, the sharp swings of recent months underline the fragility of this recovery—making BMNR both one of the most exciting and one of the riskiest plays in the crypto-equity space.
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