New York, June 16, 2026, 08:03 (EDT)
- BMNR finished Monday’s session at $17.11, up 6.21%. Shares were flat early Tuesday before the bell.
- Bitmine said it now holds $10.4 billion in crypto, cash, marketable securities and other investments. The total includes the latest weekly Ethereum buy.
Bitmine Immersion Technologies Inc. (NYSE: BMNR) shares gained after the miner reported its Ethereum treasury had grown to 5,620,754 ETH, or about 4.66% of the total ETH supply. BMNR ended Monday up 6.21% at $17.11, with the stock trading in a $17.05 to $17.82 range during the session. BMNR was last seen at $17.12 in premarket trading Tuesday, according to StockAnalysis market data. Bitmine said its crypto assets, cash, marketable securities and investments stood at $10.4 billion on June 14. StockAnalysis
Bitmine shares climbed after the company’s update added more Ether to its books and opened a new financing track for investors to work out. The company said it picked up 76,881 ETH last week, with Chairman Thomas “Tom” Lee repeating, “Over the past week, we acquired 76,881 ETH.” Early Tuesday, Ether traded around $1,797, higher than the $1,718 price Bitmine used in the June 14 holdings snapshot. That price shift matters: Bitmine’s 10-K spells out that ETH prices and treasury moves now have much more impact on BMNR’s results than its old mining business. PR Newswire
Bitmine’s Series A preferred stock is set to start trading on the NYSE as BMNP on June 16. The company sold 3.5 million shares of its 9.50% Series A perpetual preferred at $80 a share and said it netted roughly $273.8 million. Bitmine plans to pay weekly dividends, in line with the preferred’s terms. The focus for BMNR common stock now is whether BMNP’s trading can generate enough cash for Bitmine to keep buying Ethereum, instead of relying more on new common shares. PR Newswire
Bull case here isn’t complicated, but there’s risk. Bitmine is putting together one of the largest public Ethereum treasuries—it has 4,718,677 ETH staked. Staking involves locking ETH to validate transactions and earn rewards. Right now, the company says its annualized staking revenue projection is $226 million. The setup: If ETH price climbs, staking payouts remain, and BMNP draws buyers chasing yield, BMNR could trade as a liquid public bet on Ethereum. TradingView shows BMNR still way up year-on-year, though it slipped about 19.6% this past month. PR Newswire
The downside isn’t hard to see. BMNR swings sharply with ETH prices, according to its own risk filings, which list crypto volatility, regulation changes, financing risk, possible dilution from selling more shares, and the usual headaches with digital-asset accounting and custody. Shares have traded between $3.92 and $161.00 in the past year, showing how fast the story can change. The company’s $9.7 billion market cap sits close to Bitmine’s headline $10.4 billion in reported holdings, but that figure isn’t net asset value—assets minus what the company owes and senior claims before anything goes to common shareholders.
BMNR trades with more risk than clear value right now. The stock could suit investors after leveraged exposure to Ethereum who are fine with big swings, preferred-stock commitments, and potential dilution. For those after stable earnings or a plain balance-sheet story, there are still too many variables. Looking ahead, keep an eye on BMNP’s early trading, Bitmine’s ETH and staking update, and whether ETH prices stay above the level from the company’s most recent treasury snapshot.
