NEW YORK, January 1, 2026, 06:34 ET — Market closed
- BitMine Immersion Technologies shares last closed at $27.15, down about 2% in the final session of 2025.
- A CoinDesk report said South Korean retail investors were net buyers of about $1.4 billion of BMNR in 2025 despite the stock’s steep pullback from July highs.
- Investors are watching crypto prices during the U.S. market holiday ahead of Friday’s reopening and BitMine’s Jan. 15 shareholder vote.
BitMine Immersion Technologies (BMNR) shares slipped in the final session of 2025 as U.S. markets shut for New Year’s Day, with traders weighing a fresh report on persistent buying by South Korean retail investors.
The move matters because BitMine has increasingly traded as a high-volatility proxy for ether, the cryptocurrency that powers the Ethereum network, rather than a straight bitcoin miner. Crypto trades around the clock, so token swings over the holiday can feed into the stock when U.S. equities reopen.
It also highlights how cross-border retail flows can keep momentum names active even after sharp drawdowns, especially when the underlying narrative is tied to crypto balance-sheet strategies and thin year-end liquidity.
BMNR last closed at $27.15 on Wednesday, down $0.55, or about 2%, after trading between $26.86 and $28.22. Volume was about 33.9 million shares, and bitcoin was down about 1% while ether was little changed in late U.S. trading.
CoinDesk said South Korean retail investors were net buyers of about $1.4 billion of BitMine stock in 2025, ranking it second among overseas equities behind Alphabet, citing Korea Securities Depository data referenced by Bloomberg. The report also pointed to demand for leveraged products such as T-Rex’s 2X Long BitMine Daily Target ETF, which targets roughly twice the stock’s daily move and resets each day.
The stock’s boom-and-bust profile has been extreme. CoinDesk said shares were down about 82% from a July 3 peak, after a rally of more than 3,000% tied to BitMine’s pivot toward building an “ether treasury” — a strategy that prioritizes holding tokens on the balance sheet. Coindesk
BitMine said late last month that it held 4.11 million ether tokens and $1.0 billion in cash as of Dec. 28, valuing its crypto and cash holdings at $13.2 billion at then-prevailing prices. “Bitmine added 44,463 ETH in the past week,” chairman Thomas “Tom” Lee said in the release. PR Newswire
The company has also been urging shareholders to vote ahead of its annual meeting on Jan. 15, where proposals include increasing authorized common shares and approving a 2025 omnibus incentive plan, according to its proxy materials.
Crypto-linked stocks often move with underlying tokens and broader risk appetite. U.S. equities eased into the year-end close in light holiday trading, with the S&P 500 falling 0.7% on Wednesday.
Before the next session on Friday, investors will watch whether crypto holds its holiday range and how much risk appetite returns after thin year-end liquidity.
For BitMine, the near-term calendar is dominated by the Jan. 15 vote, which investors see as a read-through on shareholder support for the company’s capital flexibility and compensation framework. Approval of additional share capacity can ease future fundraising but can also raise dilution concerns.
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