BitMine Immersion Technologies, Inc. (NYSE American: BMNR) finished Wednesday, December 17, 2025, on a weak note — and then went quiet after the closing bell.
BMNR closed at $29.32, down 6.59% on the day, after trading between $29.14 and $32.23 and printing 55.11 million shares in volume. [1]
In early after-hours trading, the stock was essentially unchanged, hovering around $29.30–$29.32. [2]
For investors watching this name into Thursday morning, BMNR remains a “high-beta” proxy for Ethereum (ETH) sentiment — and tomorrow is a major macro day with inflation data due before the open.
BMNR after the bell: the headline numbers (Dec. 17, 2025)
Regular session (Wednesday):
- Close: $29.32 (-6.59%) [3]
- Day’s range: $29.14 to $32.23 [4]
- Volume: 55.11M shares [5]
- 52-week range: $3.20 to $161 [6]
After-hours (post-close):
- Flat-to-slightly-lower around $29.30–$29.32 in the first hour after the close. [7]
The muted after-hours action suggests the market didn’t get a fresh catalyst immediately after 4 p.m. ET — but with BMNR, that can change quickly because crypto trades 24/7.
Why BitMine trades like an Ethereum “treasury stock”
BMNR’s story has shifted from being “just” a crypto/mining-adjacent equity into something closer to a public-market Ethereum treasury vehicle — and the company’s own disclosures lean hard into that framing.
In its Dec. 15 press release, BitMine said that as of Dec. 14 at 6:00 p.m. ET, its crypto and cash holdings included:
- 3,967,210 ETH (priced in the release at $3,074 per ETH)
- 193 Bitcoin (BTC)
- $1.0 billion total cash
- A $38 million stake in Eightco Holdings (ticker shown as ORBS in the release)
[8]
The company also stated it now owns more than 3.2% of ETH supply, is targeting the “Alchemy of 5%,” and described BMNR as among the most widely traded stocks in the U.S. with a cited $1.9 billion/day five-day average dollar volume metric. [9]
It also reiterated plans for a staking initiative — the “Made in America Validator Network (MAVAN)” — which the chairman said is intended to be deployed in early calendar 2026. [10]
Bottom line: when ETH is soft, BMNR can get hit harder than the broad market — and when ETH runs, BMNR can move fast in the other direction.
Where crypto stood late Wednesday (and why it matters for BMNR)
As of Wednesday evening, both major crypto benchmarks were down on the day:
- Ethereum (ETH): about $2,825, down roughly 4.3%
- Bitcoin (BTC): about $84,798, down roughly 1.9%
That matters because BMNR’s balance-sheet narrative is heavily ETH-driven — and investors often treat the stock as an “equity wrapper” around Ethereum exposure plus management/strategy execution risk.
Today’s forecasts and analysis: what the market is saying on Dec. 17
1) Technicals: “Strong Sell” and oversold readings
Investing.com’s daily technical dashboard for BMNR (timestamped Dec. 17, 2025, 10:11 p.m. GMT) labeled the stock “Strong Sell.” It also showed:
- RSI(14): 22.718 (Oversold)
- Moving averages from MA5 through MA200 showing Sell signals
[11]
Oversold doesn’t mean “can’t fall further,” but it does tell you BMNR has been under heavy near-term selling pressure — a setup that can amplify reactions to overnight ETH moves and premarket macro news.
2) Street targets: limited coverage, but big dispersion
Simply Wall St’s compiled analyst section shows a 12-month average target of $53.50, with a high of $60.00 and low of $47.00, and notes there are only two analysts in its dataset — meaning the “consensus” can be fragile. [12]
The same source lists BMNR’s P/E ratio around 36.7x based on its displayed earnings and market cap inputs. [13]
3) The Tom Lee factor: a very bullish ETH forecast circulating today
A widely shared narrative driver today comes from a Motley Fool piece published Dec. 17, which points to Fundstrat’s Tom Lee projecting Ethereum could reach $62,000 by mid-2026 — a call that implies ~1,900% upside from roughly the ~$3,000 level discussed in the article (and it also notes this forecast assumes an aggressive Bitcoin scenario). [14]
This is particularly relevant for BMNR watchers because Tom Lee is also cited in BitMine’s own communications as chairman, and the company explicitly positions its strategy around accumulating and ultimately staking a massive ETH position. [15]
Company-specific developments investors should remember going into Thursday
CFO transition disclosed in a recent SEC filing
In a Form 8‑K filed Dec. 15, BitMine disclosed a separation agreement with its CFO, Raymond Mow, describing a transition period and severance/compensation terms. The filing also states the resignation was not related to a disagreement with the company’s operations, policies, or practices. [16]
This matters because BMNR is already viewed as a strategy-driven “treasury” equity. Leadership stability and governance can influence how investors discount (or trust) the balance-sheet story.
Institutional flows: ARK bought shares earlier this week
An Investing.com recap of ARK’s published trades said ARK purchased 550,404 shares of BitMine Immersion Technologies valued at about $19.2 million (in the report covering trades disclosed for Monday, Dec. 15). [17]
That’s not a guarantee of support — but it’s part of the backdrop for why BMNR can stay in the spotlight even on down days.
What to watch before the market opens Thursday, Dec. 18, 2025
Here are the key “known knowns” for the next several hours:
1) CPI is due at 8:30 a.m. ET — and it can move everything
According to the New York Fed’s economic indicators calendar, Consumer Price Index (CPI) and the Philadelphia Fed Manufacturing Survey are both scheduled for Thursday, Dec. 18, at 8:30 a.m. ET — one hour before the cash equity open. [18]
Why BMNR investors care: CPI can swing Treasury yields, the dollar, and risk appetite — which often spills into crypto, and then into crypto-linked equities.
2) ETH trades overnight; BMNR doesn’t (much)
BMNR will largely pause until the premarket session and then the open — but ETH and BTC will keep trading. With BitMine’s disclosed ETH position, sharp overnight crypto moves can translate into gap risk at the open. [19]
3) Watch for any fresh filings or treasury updates
BitMine has been releasing detailed snapshots of holdings and positioning. Any additional announcements or SEC filings could reset the narrative quickly, especially with BMNR’s elevated attention and liquidity profile. [20]
4) Liquidity is a double-edged sword
Today’s volume (55M+ shares) was enormous relative to many small- and mid-cap names, and BMNR’s high activity is a core part of the bull case described by the company. [21]
High liquidity can help reduce transaction friction — but it can also enable fast drawdowns when momentum flips.
5) Short interest is meaningful, but not extreme — and “days to cover” is low
As of the latest published short-interest reporting period referenced by MarketBeat, BMNR had 27.12 million shares sold short (about 7.06% of float) with an estimated 0.5 days to cover. [22]
That setup can fuel volatility in both directions — especially if CPI triggers a broad risk-on or risk-off move.
The takeaway heading into Thursday
BMNR ended Dec. 17 with a steep decline, but after-hours trading was calm. [23]
The bigger question isn’t what happened after the bell — it’s what happens before the bell tomorrow:
- CPI at 8:30 a.m. ET is the macro event risk. [24]
- ETH’s overnight path is the BMNR-specific variable, given BitMine’s massive disclosed ETH treasury strategy. [25]
- Technically, BMNR screens as deeply oversold, which can magnify reactions to any catalyst (good or bad). [26]
References
1. uk.investing.com, 2. www.marketbeat.com, 3. uk.investing.com, 4. uk.investing.com, 5. uk.investing.com, 6. uk.investing.com, 7. www.marketbeat.com, 8. www.prnewswire.com, 9. www.prnewswire.com, 10. www.prnewswire.com, 11. www.investing.com, 12. simplywall.st, 13. simplywall.st, 14. www.fool.com, 15. www.prnewswire.com, 16. www.sec.gov, 17. www.investing.com, 18. www.newyorkfed.org, 19. www.prnewswire.com, 20. www.prnewswire.com, 21. uk.investing.com, 22. www.marketbeat.com, 23. uk.investing.com, 24. www.newyorkfed.org, 25. www.prnewswire.com, 26. www.investing.com
