NEW YORK, December 31, 2025, 13:54 ET — Regular session
- BitMine Immersion Technologies shares were down about 1.5% at $27.30 in afternoon trade.
- A recent SEC filing showed the company touted $13.2 billion in crypto, cash and “moonshots,” including 4.11 million ether tokens and $1.0 billion in cash.
- Investors are tracking a Jan. 15 annual meeting where shareholders will vote on, among other items, raising authorized shares.
Shares of BitMine Immersion Technologies, Inc. fell about 1.5% to $27.30 on Wednesday, giving back early gains as investors weighed the company’s latest proxy-related disclosures and choppy year-end crypto trading.
The stock has become a fast-moving proxy for ether prices, after BitMine pivoted toward building a large cryptocurrency “treasury” — a balance-sheet strategy where the company holds digital assets rather than treating them as a byproduct of operations.
That linkage matters into the final two sessions of 2025, when liquidity can thin out and tax-driven repositioning tends to exaggerate moves in crypto and crypto-linked equities.
In additional proxy materials filed with the U.S. Securities and Exchange Commission, BitMine posted a holdings snapshot showing $13.2 billion in total crypto, cash and “moonshots,” including 4,110,525 ether tokens valued at $2,948 each, 193 bitcoin, a $23 million stake in Eightco Holdings, and $1.0 billion in cash.
The filing also showed a weekly purchase tally, including 44,463 ether tokens bought in the week ended Dec. 29. BitMine Chairman Thomas “Tom” Lee said, “Year-end tax-loss related selling is pushing down crypto and crypto equity prices.”
BitMine has also been highlighting its push into “staking,” a way of earning yield by locking up tokens to help validate transactions on a blockchain network. The company said it had 408,627 ether staked as of Dec. 28 and was working with three staking providers ahead of a commercial rollout of its MAVAN validator network in 2026.
Crypto prices were mixed on Wednesday. Ether was up about 0.2% at roughly $2,969, while bitcoin fell about 0.6% to around $87,622.
Crypto-linked stocks were uneven as traders headed into the year-end close. Coinbase fell about 1.6%, while bitcoin miner Marathon Digital slipped about 1.6% and CleanSpark lost about 1.8%; Riot Platforms rose about 1.6%. Strategy, the bitcoin-heavy software company often used as a proxy for bitcoin exposure, was down about 1%.
Based on the token count disclosed in the SEC materials, every $100 move in ether changes the value of BitMine’s ether holdings by roughly $411 million, before accounting for cash, bitcoin and other investments.
The stock traded between $27.22 and $28.22 on Wednesday, with volume near 18.6 million shares by early afternoon, according to market data.
Investors are also focused on governance items tied to the Jan. 15 annual meeting. A company post summarized four proposals, including electing directors, increasing the number of authorized common shares, approving an omnibus incentive plan, and an advisory vote on a compensation arrangement for the executive chairman.
BitMine’s common stock trades on NYSE American under the symbol BMNR. For now, traders are watching whether the shares hold above the day’s lows into the close, and whether the company provides further updates on its ether purchases and staking plans heading into the shareholder vote.
