New York, July 2, 2026, 17:04 EDT
- BitMine traded at $14.36, up 21 cents, on volume of about 40.9 million shares.
- The company’s June 29 filing listed total crypto, cash, marketable securities and “moonshots” at $9.8 billion. That figure includes 5.700 million ETH and $555 million in cash and marketable securities.
- With 569.58 million shares and the current price, MarketWatch puts the common equity at roughly $8.18 billion. That is 0.83 times the holdings the company reported on June 28.
- NYSE trading is shut Friday, July 3, for Independence Day observed.
BitMine Immersion Technologies, Inc. NYSE:BMNR added 1.5% late Thursday, though most of the action was in the discount. The latest stock price with MarketWatch’s share count pegs the equity at around $8.18 billion. That’s still under the $9.8 billion total BitMine said it held in crypto, cash, marketable securities, and “moonshots” as of June 28. MarketWatch
The pricing works out to about 83 cents per $1 of reported assets before preferred equity, liabilities, taxes, and operating expenses. That’s key here—BitMine now trades less like a miner, more like a listed ETH balance-sheet play with a fresh spot in the Russell 1000.
| Measure | Figure | Read-through |
|---|---|---|
| Latest BMNR quote | $14.36 | Stock up 21 cents today |
| Shares outstanding used | 569.58 mln | Share count from MarketWatch |
| Implied common equity value | $8.18 bln | Figure is price multiplied by shares |
| Reported holdings, June 28 | $9.8 bln | Includes crypto, cash, marketable securities, and “moonshots” |
| Common value / reported holdings | 0.83x | Shares trade at roughly 16.5% below reported holdings |
The company reported that as of June 28, it held 5,700,040 ETH priced at $1,569 each, along with 206 bitcoin, $555 million in cash and marketable securities, and two equity investments. With ETH last quoted at $1,624.95 by the finance feed, that ETH stack would be valued near $9.26 billion, about $319 million more than BitMine’s June 28 ETH valuation if the number of tokens stayed flat.
The stock didn’t close the mark-to-market gap. It traded between $14.22 and $15.235, with almost $587 million in dollar volume. That’s under the $643 million five-day average Fundstrat cited in BitMine’s filing, but BMNR still ranked among high-turnover names.
| Asset/security | Latest | Day move | Note |
|---|---|---|---|
| BitMine Immersion Technologies NYSE:BMNR | $14.36 | +1.5% | Volume hit 40.9 mln shares |
| Ethereum | $1,624.95 | +0.4% | Main holding in treasury |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $744.78 | -0.1% | Used as U.S. large-cap benchmark |
| iShares Russell 2000 Index Fund NYSEARCA:IWM | $297.58 | -0.6% | Takes small-cap exposure |
Thomas “Tom” Lee, who chairs BitMine, described the previous week as “challenging” for crypto investors—the comment came after ETH dropped 8%. But he said BitMine kept up a “steady pace of accumulation throughout 2026.” Lee also said the Russell 1000 move could bring in “hundreds and possibly thousands” of new institutional holders.
The Russell name isn’t just an index detail. BitMine said it joined the Russell 1000 Large-cap Index on June 26. It pointed to Investment Company Institute data showing passive funds and ETFs tend to hold 18%-20% of a company’s stock. Now the shares are caught between index demand and crypto NAV math.
BitMine’s preferred stock gives investors a higher position than common shareholders. The company sold 3.5 million shares of its 9.50% Series A Perpetual Preferred Stock for $80 apiece, raising about $273.8 million after costs. The preferred is listed on the NYSE under BMNP. According to the SEC filing, each share has a $100 stated value and starts with a $100 liquidation preference.
The annual dividend on the preferred is pegged at around $33.25 million. BitMine said annualized staking revenue is now seen at $211 million, with full-scale rewards topping $246 million. “Annualized staking revenues are now projected at $211 million,” Lee said.
The SEC filing said BitMine plans to pay preferred dividends mostly from ETH staking yields, Ethereum option trades, and more capital raised. But the agency said there is no guarantee those sources will cover the payouts. That highlights why the discount on the common stock matters—investors are weighing not only ETH prices but risk from operations, dilution, and how much cash they actually get.
NYSE markets are closed Friday, July 3, for the Independence Day holiday. Trading for U.S. stocks starts up again on Monday, July 6. Crypto stays open through the break, so BMNR will have a live ETH price but won’t get a Friday print from the stock market.
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