NEW YORK, December 29, 2025, 11:28 ET — Regular session
- BitMine shares were modestly higher after the company updated crypto-and-cash holdings and pushed investors to vote ahead of its annual meeting.
- The company said it held 4.11 million ether tokens and $1.0 billion in cash as of Dec. 28.
- Shareholders face a Jan. 14 proxy deadline, with a key proposal to raise the number of authorized shares.
Shares of BitMine Immersion Technologies Inc rose in late morning trading on Monday after the company said its ether holdings climbed above 4.1 million tokens and it stepped up outreach ahead of a January shareholder vote. SEC+1
The NYSE American-listed stock was up about 0.5% at $28.45, after swinging between $27.80 and $29.60 earlier in the session.
The update matters because BitMine has positioned itself as a crypto-treasury play, meaning investors often value the stock off the market value of the digital assets it holds rather than traditional operating earnings. The company also wants shareholder approval to increase authorized shares — the maximum stock it is allowed to issue — a measure investors watch for potential dilution. SEC
Crypto prices were little changed on the day, with ether down about 0.4% near $2,929 and bitcoin down roughly 0.3% around $87,486.
BitMine said in a press release that, as of Dec. 28 at 6:00 p.m. ET, it held 4,110,525 ether tokens valued at $2,948 per token, 192 bitcoin, $1.0 billion in cash and a $23 million stake in Eightco Holdings. It pegged total “crypto + total cash + ‘moonshots’” at $13.2 billion. SEC
“Bitmine added 44,463 ETH in the past week,” said Thomas “Tom” Lee of Fundstrat, BitMine’s chairman. He said year-end tax-loss selling — when investors sell losers to offset gains before Dec. 31 — was weighing on crypto and crypto-linked stocks. SEC
The company said it had 408,627 ether “staked,” a process that locks up tokens to help secure the Ethereum network in exchange for yield, and that it was working with three staking providers as it develops a commercial staking product it calls MAVAN, targeted for launch in the first quarter of 2026. SEC
Using a composite Ethereum staking rate of 2.81%, Lee said staking fees at full scale would amount to about $374 million a year. SEC
BitMine said shareholders have until Jan. 14 to vote on proposals ahead of its Jan. 15 annual meeting in Las Vegas. The agenda includes electing eight directors, approving a charter amendment to increase authorized shares, adopting a 2025 incentive plan and an advisory vote on a special performance-based pay arrangement for the executive chairman. SEC
The company also said it now holds about 3.41% of Ethereum’s token supply and described its goal as acquiring 5% — a target it calls the “alchemy of 5%.” SEC
BitMine said its stock has been among the most actively traded in the U.S., citing a five-day average daily dollar volume of $980 million as of Dec. 26 that it said ranked it 47th among U.S.-listed stocks. SEC
Elsewhere in crypto-linked equities, Strategy Inc — which BitMine cited as the larger global crypto treasury holder — was down about 0.9%, while Coinbase fell about 1.4%. Bitcoin miners Marathon Digital and Riot Platforms were also lower. SEC
Traders will be watching whether BitMine holds above Monday’s low near $27.80 and whether it can regain $30, a level that has acted as a psychological marker for momentum names.
The next near-term catalysts are the shareholder vote and the company’s staking rollout timeline, with holiday-thinned liquidity and crypto prices likely to steer day-to-day moves. U.S. markets are closed on Thursday for New Year’s Day. Reuters+1
