NEW YORK, July 3, 2026, 15:02 EDT
- U.S. stock markets are closed Friday for Independence Day, with Bitmine set to resume trading on Monday.
- BMNR finished Thursday at $14.36, up 1.48% on the day. Shares gained 5.90% over the last five sessions but are still down 47.11% for the year.
- A mark-to-market of reported Ether, Bitcoin, stakes and cash shows gross holdings around $10.08 billion. That’s more than the stock’s $8.18 billion equity value.
U.S. stock markets are closed Friday for Independence Day. The NYSE marks July 3, 2026, as the Independence Day holiday. Nasdaq’s holiday calendar also shows markets shut. Bitmine Immersion Technologies Inc. NYSE:BMNR next trades in the regular session Monday.
Bitmine ended Thursday at $14.36, gaining 1.48%. Volume came in at 41.13 million shares. MarketWatch puts the company’s market cap at $8.18 billion, with 569.58 million shares outstanding. Shares have climbed 5.90% over five days. They are still down 47.11% for the year and down 89.36% from a year ago.
The weekend problem is clear: the stock is halted, but most of the balance sheet ties to Ether. Ether traded at $1,624.95 late Friday, while Bitcoin was at $62,161. Bitmine put out an SEC-filed release June 29, saying that as of June 28 it held 5,700,040 ETH, 206 Bitcoin, $555 million in cash and marketable securities, a $180 million position in Beast Industries and $74 million in Eightco Holdings Inc. NASDAQ:ORBS.
| Measure | Latest figure | Investor read |
|---|---|---|
| BMNR last regular close | $14.36 | Equity price stays flat till Monday |
| Market value | $8.18 bln | That’s from Thursday’s close |
| Company-reported gross holdings | $9.8 bln | Stands about 16.5% higher than market |
| Friday mark-to-market gross holdings | About $10.08 bln | Sits about 18.9% above market value |
| $100 move in Ether | About $570 mln | Works out to around $1.00 for each BMNR share |
The gap isn’t pure net asset value. Bitmine said it wrapped up a 3.5 million-share deal for its 9.50% Series A Perpetual Preferred Stock, bringing in about $273.8 million in net proceeds as of June 10. The preferred, trading under BMNP, carries weekly dividends. Gross holdings reflect company-stated marks for both Beast and Eightco.
Chairman Thomas “Tom” Lee called the last week “a challenging one” for crypto investors as Ether dropped 8%. Lee said Bitmine picked up 27,084 ETH during the week and is still in the “early stages of crypto spring.” Bitmine reported its ETH position is now 4.7% of all ETH outstanding and that it’s 94% of the way to its 5% goal.
Bitmine was added to the Russell 1000 Large-cap Index on June 26, the company said. Lee said they expected the inclusion to bring in more institutional holders. In the release, the company cited Investment Company Institute data showing that passive funds and ETFs usually hold 18% to 20% of a company’s stock.
Ethereum Institutional said on July 1 that it launched as an independent non-profit. Backers include Bitmine, Sharplink Inc. NASDAQ:SBET, and Ethereum co-founder Joe Lubin. “Financial firms are making infrastructure decisions today,” Lee said. Sharplink CEO Joseph Chalom said institutions are moving “from interest to action.” David Walsh, Ethereum Institutional’s executive director, said Ethereum needs “a credible, independent counterpart.” PR Newswire
| Last-week item | Data point | Monday issue |
|---|---|---|
| ETH holdings update | 5.700040 mln ETH | Ether price moves over the weekend shift the balance sheet |
| Staked ETH | 4.879157 mln ETH | Valuation still leans on staking yield claims |
| Russell 1000 entry | Added June 26 | Watch volumes for passive and benchmark demand signals |
| Ethereum Institutional launch | July 1 | ETH treasury stocks face a new check—do they follow adoption stories or track the coin price? |
A $100 swing in Ether shifts Bitmine’s ETH position by around $570 million in gross terms—enough to have an impact before markets open Monday. That figure is about 7% of the company’s market cap as of Thursday, or nearly $1.00 per share.
Bitmine’s risk warnings keep the discount a factor. The company said its future performance might not match forward-looking statements due to financing needs, competition, changes in regulation, volatility in digital asset prices, staking risks, AI crypto risks, and the future prices of Bitcoin and Ethereum.
