NEW YORK, January 1, 2026, 11:50 ET — Market closed.
BitMine Immersion Technologies, Inc.’s shares last closed down 2.1% at $27.15, capping the year-end session with another volatile swing as a report flagged heavy buying by South Korean retail investors in the crypto-focused stock.
The attention matters now because BitMine has become a high-beta proxy for ether — the token of the Ethereum blockchain — at a time when traders are trying to gauge whether risk appetite will return after year-end positioning and a choppy crypto tape.
With U.S. markets shut for the New Year holiday, liquidity is thin in many stocks, a setup that can amplify moves in small, retail-driven names linked to crypto prices and sentiment.
In the final U.S. session of 2025, BMNR traded between $26.84 and $28.08 and saw about 33.9 million shares change hands, according to Investing.com.
CoinDesk reported on Wednesday that South Korean investors poured a net $1.4 billion into BitMine in 2025, keeping it among the most bought overseas equities even after the shares slid about 82% from their July 3 high.
The same report said South Korean traders also sought leveraged exposure through a 2x daily ETF tied to BitMine — a structure designed to double a stock’s daily move, and one that can magnify losses when volatility rises.
BitMine’s stock surge earlier this year followed its pivot from bitcoin mining toward building an “ether treasury,” a balance-sheet strategy that centers on holding ETH as a corporate reserve, the report said. Futunn News
In a Dec. 29 press release, BitMine said it held 4,110,525 ETH as of Dec. 28 and that it planned to launch its MAVAN staking network in the first quarter of 2026; staking is the process of locking tokens to help run a proof‑of‑stake network in exchange for rewards.
“Year-end tax-loss related selling is pushing down crypto and crypto equity prices,” Chairman Thomas “Tom” Lee said in that release, referring to sales made to offset taxable gains before the calendar year ends. PR Newswire
Crypto’s broader backdrop remains unsettled. Bitcoin was on track for its first annual loss since 2022, pressured by macro swings that have increasingly pulled crypto in line with moves in other risk assets, a Reuters report said.
Bitcoin and ether traded around $87,864 and $2,979, respectively, on Thursday, according to LSEG data.
Before the next session, traders are likely to take cues from crypto price action and whether retail-driven flows remain concentrated in a small group of crypto‑treasury equities, where stock moves can outpace the underlying token.
On the company calendar, BitMine has pointed investors to its annual stockholder meeting on Jan. 15 in Las Vegas and to updates on its staking rollout as the next company-specific milestones.
Macro watchers will also be focused on Friday’s U.S. employment report for December, a key data point that can swing interest-rate expectations and, by extension, risk assets including crypto-linked stocks.
Technically, BMNR’s near-term reference points sit around Wednesday’s low near $26.84 and the session high around $28.08; a break on either side could draw momentum traders back when U.S. markets reopen.
