BitMine Immersion (BMNR) Stock Rockets 700% on $13.4B Crypto Haul – Bubble or Breakout?
BMNR’s price action has been wild. After languishing under $2.00 in late 2024, the stock erupted in mid-2025. On July 3 it briefly hit a 52-week high of $161 after a $250M stock raise markets.financialcontent.com. In early Oct 2025, it traded ~$58–60 coindesk.com. On Oct 6 it surged 11.6% amid news of its massive ETH hoard ts2.tech coindesk.com. By the Oct. 10 close, BMNR was around $52.47 stockanalysis.com as the crypto markets pulled back. Trading volumes remain enormous – one report cites a 5-day avg. volume >60M ts2.tech – reflecting both retail frenzy and frequent institutional block trades. Chart/Trend: Technically, the stock has been extremely volatile. It climbed nearly straight up in August/September, then showed swift pullbacks. Investors report that chart indicators are stretched and RSIs are high. Investing.com notes “stock has taken a big hit over the last week” investing.com. Consensus technical sentiment is mixed. The key short-term support appears in the low-$50s, while overhead resistance lies at the recent highs near $63–65.