NEW YORK, December 31, 2025, 17:57 ET — After-hours
- BitMine Immersion shares were down about 2% at $27.15 in after-hours trading.
- An additional proxy filing showed a fresh push to lock in votes ahead of the company’s January 15 annual meeting.
- Crypto prices were mixed, with ether near $2,972 and bitcoin lower, keeping crypto-linked equities in focus into year-end.
Shares of BitMine Immersion Technologies, Inc. fell about 2% in after-hours trading on Wednesday, tracking a volatile session as investors digested the company’s latest proxy-vote push ahead of a January shareholder meeting.
The timing matters because BitMine has repositioned itself as a corporate holder of crypto — especially ether — and shareholder approval of its meeting items could affect how aggressively it can raise capital.
BMNR has also traded as a high-beta proxy for crypto prices into the final week of the year, when liquidity can thin and moves can get exaggerated. Ether was up slightly on the day while bitcoin slipped.
As of 5:57 p.m. ET, BMNR was down $0.55 at $27.15. The stock traded between $26.86 and $28.22 during the session, with volume of about 33.6 million shares, market data showed.
In an additional proxy filing, the company included a text-message script from proxy solicitor Alliance Advisors urging shareholders to “VOTE YOUR SHARES TODAY!” and linking to a video message from chairman Tom Lee.
BitMine is seeking votes on four proposals at its January 15 annual meeting, including a charter amendment to increase the number of authorized common shares and approval of a 2025 omnibus incentive plan, the company said. It also put a non-binding advisory vote on a performance-based compensation arrangement for the executive chairman on the agenda.
The company’s vote campaign comes as it highlights the size of its crypto treasury. In a December 29 press release filed with the SEC, BitMine said its crypto, cash and other holdings totaled about $13.2 billion as of December 28, including 4.11 million ether tokens and $1.0 billion in cash, plus 192 bitcoin, using prices sourced from Coinbase.
BitMine also said the ether position represented 3.41% of Ethereum’s token supply. The company said it had staked 408,627 ether — locking up tokens to help validate transactions on the network in return for rewards — and was working toward launching its “Made in America Validator Network” staking solution in early 2026. SEC
Using the company’s cited composite Ethereum staking rate of 2.81%, fully staking 4.11 million ether would imply roughly 115,000 ether of annual rewards. At Wednesday’s ether price of about $2,972, that works out to about $343 million a year, before fees and execution risk.
“Year-end tax-loss related selling is pushing down crypto and crypto equity prices,” Lee said in the company’s release, pointing to the post-Christmas window as the heaviest period. SEC
Crypto-linked equities often trade off reference points set by large treasury-style holders. BitMine has pointed to Strategy Inc. (MSTR) — known for its bitcoin-heavy balance sheet — as the larger “global treasury,” framing itself as the ether-focused counterpart, according to the release. SEC
What investors will watch next is straightforward: the voting deadline, which the company’s chairman said is January 14 at 11:59 p.m. ET, and whether shareholders back the proposals that could expand the share count. Traders will also keep an eye on crypto prices and whether BMNR holds above Wednesday’s $26.86 low or reclaims the $28.22 session high.
