NORWALK, Connecticut, September 2, 2026, 14:36 (EDT)
- At 14:34 EDT, BitMine was trading at $23.42, a rise of 0.2%.
- At 14:30 EDT, ether traded at $2,395.01, down 0.9% from its previous close.
- An estimate based on marked holdings values common shares at about $24.21 each.
Shares of BitMine Immersion Technologies, Inc. NYSE:BMNR rose 0.2% on Wednesday. The decline in ether, though, lowered the asset buffer supporting the stock.
At 14:34 EDT, the shares traded at $23.42. Trading volume stood at 19.9 million shares, based on the Nasdaq real-time quote.
At 14:30 EDT, ether was priced at $2,395.01, marking a 0.9% decline from Tuesday’s close, according to Yahoo Finance market data.
BMNR outpaced Ether after the opening bell
Change from each asset’s first regular-session five-minute close.
As of . Source: Yahoo Finance intraday data. Five-minute closes; not live streaming.
On August 30, BitMine disclosed it held $15.6 billion in cryptocurrency, cash, and investments. According to the company’s SEC-filed release, its portfolio included 5.90 million Ether, valued at $2,511 each.
Reducing the value of just the Ether holding lowers the overall amount by approximately $685 million. The initial gross mark is now around $14.92 billion.
From reported holdings to a common-equity reference
Sources: BitMine August 31 release and May 31 Form 10-Q. Estimate uses 603.23 million shares, the $280 million preferred liquidation claim and $30.1 million of May 31 liabilities. Rounded figures may not add.
The common-equity reference stands at around $24.21 per share, representing a 3.3% premium to BitMine’s most recent price.
This figure is an estimate rather than a reported net asset value. The calculation is based on July’s share count and liabilities from May.
Ether sensitivity of estimated common value
Per-share estimates hold all non-Ether marks, liabilities and share count constant. Sources: company filings, Nasdaq and Yahoo Finance. Values are scenarios, not forecasts.
Staking provides an additional yield component. BitMine reported that 5.07 million Ether, accounting for 86% of its overall holdings, has been staked.
Chairman Thomas Lee stated, “Over the past week, we acquired 53,501 ETH.” The company estimated $340 million in annualized staking revenue as of August 30.
Share sales are still key. Outstanding common shares increased from 232.4 million last August to 603.2 million as of July 9, according to the most recent quarterly report.
The 160% rise is more significant than the total Ether figure on its own. Even as new issuance increases assets, it can still reduce Ether per share.
The operating base has decreased in size. In the May quarter, staking and validation revenue totaled $45.7 million, and self-mining brought in $624,000.
BMNR traded 64% under its 52-week peak, while staying 31% higher than its 50-day mean, data from Yahoo Finance showed.
Risks: Ether price moves, staking returns and storage expenses may fluctuate rapidly. The projection does not account for future stock offerings, asset acquisitions or variations in liabilities.
The investor test remains specific. BitMine needs to increase Ether and staking revenue more quickly than claims tied to each common share.
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