New York, January 6, 2026, 13:18 EST — Regular session
- BitMine shares fell about 5% in afternoon trade as crypto-linked stocks weakened
- Company disclosed $14.2 billion in crypto and cash holdings in a Monday update
- Cantor Fitzgerald started coverage with an Overweight rating and a $39 target
Shares of BitMine Immersion Technologies fell 5.4% to $31.54 in Tuesday afternoon trading. The stock swung between $31.41 and $34.13 on the session on volume of about 24.5 million shares as bitcoin slid 2.4%, while ether rose 0.5%; crypto miners Marathon Digital, Riot Platforms and CleanSpark also traded lower. SEC
The pullback follows BitMine’s disclosure on Monday that its crypto and cash holdings total $14.2 billion, led by 4,143,502 ether, plus 192 bitcoin, $915 million in cash and a $25 million stake in Eightco Holdings. BitMine said 659,219 ether were staked — locked up to help secure the Ethereum network in return for rewards — and pegged the composite staking rate at 2.81% as it works toward launching its “Made in America Validator Network” staking platform in the first quarter; Chairman Tom Lee also urged shareholders to back a plan to raise authorized shares, the legal cap on how many shares the company can issue. PR Newswire
That vote is drawing fresh attention after Cantor Fitzgerald initiated coverage with an Overweight rating and a $39 price target. Analyst Brett Knoblauch pointed to the importance of scale and liquidity for “digital asset treasuries,” saying BitMine’s fundraising and trading activity can support an “ETH accumulation flywheel,” according to TheFly. TipRanks
A regulatory filing late Monday showed the company furnished the disclosure under Regulation FD in a Form 8-K, and said the information “shall not be deemed ‘filed’” for certain liability purposes under U.S. securities law. SEC
BitMine describes itself as a bitcoin and ether network company that blends a digital-asset treasury with a legacy business in bitcoin mining and mining-as-a-service, according to a Reuters company profile. Reuters
The setup cuts both ways. A higher authorized share count can give a company flexibility, but it can also stoke dilution fears if management issues stock to fund crypto purchases or deals, while the value of BitMine’s holdings can swing sharply with token prices and staking yields.
Investors are watching the Jan. 15 annual meeting in Las Vegas, with phone and internet voting set to close at 11:59 p.m. ET on Jan. 14, and any new disclosure on BitMine’s ether position and staking rollout is likely to remain a near-term catalyst. Investing News Network (INN)
