Latest news with #BMNR
Globe and Mail
18 hours ago
- Business
- Globe and Mail
Why BitMine Immersion Technologies Stock Skyrocketed Today
Key Points BitMine's explosive rally continued Thursday as investors placed bullish bets on the company's Ethereum treasury stratgey. Investors are excited to have Wall Street strategist Tom Lee's appointment as board chairman. BitMine is aiming to be a leading Ethereum investment company, similar to what Strategy has done with Bitcoin. BitMine Immersion Technologies (NYSEMKT: BMNR) stock posted another day of explosive gains in Thursday's trading -- ending the session up 130.8%. The company's share price is up roughly 2,450% over the last week. News that Wall Street strategist Tom Lee is joining Bitmine in a push to make Ethereum 's Ether token central to Bitmine's crypto holdings has helped kick off a massive rally for the stock. In conjunction with the company naming Lee as chairman of its board of directors, the company announced that it was raising $250 million in a private funding round. BitMine's massive rally continues BitMine stock began rocketing higher Monday after Tom Lee's board appointment and the massive funding news hit the wire. Lee is the leader of Fundstrat, an investing research firm, and he's been a prominent long-term bullish champion for Bitcoin and other cryptocurrencies. He's scored some big wins with his calls, and his name carries a lot of weight in the crypto space. By selling shares of its stock through a private listing, BitMine will raise $250 million in funding. The capital that it raises through the stock sale will be used with the goal of turning the company into one of the largest publicly traded Ethereum investment companies. The development comes amid rising interest in stablecoins running on the Ethereum network. What's next for BitMine? Tom Lee has an impressive pedigree in cryptocurrency investment, and having him head up BitMine's board of directors will likely open up some big opportunities and help secure additional funding. BitMine will likely continue to sell stock in order to build up its Ethereum holdings, seemingly aiming to do with Ethereum what Strategy has done with Bitcoin. If Ethereum's value continues to rise, this can help BitMine to issue more stock -- potentially creating a cycle that still supports huge gains for its share price. If Ethereum continues to rise over the long term, this type of strategy can have big payoffs -- but there's also big downside risk if the token's valuation falters. Should you invest $1,000 in Bitmine Immersion Technologies right now? Before you buy stock in Bitmine Immersion Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitmine Immersion Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor 's total average return is1,049% — a market-crushing outperformance compared to179%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 30, 2025
Yahoo
20 hours ago
- Business
- Yahoo
Tom Lee's Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink's Plunge Warrants Caution
Bitmine Immersion (BMNR), the ether treasury strategy firm helmed by Fundstrat's Thomas Lee, is the latest red-hot crypto proxy play in town. The company's shares more than doubled on Thursday topping $140, now rallying over 3,000% in less than a week since the firm announced the raising of $250 million by selling shares to acquire ETH. The private placement offering, priced at $4.50 per share and due to close today, attracted institutional investors including Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, DCG. At its core, Bitmine is positioning itself as a publicly traded proxy for ether exposure, similar to how Michael Saylor's Strategy (MSTR) became a leveraged bitcoin bet. The approach has gained traction recently as investors look for new ways to access crypto through public equities. The firm originally focused on crypto mining using immersion cooling and held $16 million in bitcoin prior to the fundraising. But a similar crypto treasury stock's rapid rise and fall may offer a cautionary tale. The parabolic rise in BMNR mirrors the trading behavior of Sharplink Gaming (SBET), another public company that repositioned itself as an ETH treasury firm last month under the leadership of Consensys co-founder Joseph Lubin. Sharplink soared as much as 4,000% in days following its $450 million fundraising announcement. Shares since plunged over 90% from peak as the firm closed its ETH acquisition and early investors in the private placement sold stock locking in their profits. Bitmine's valuation, with a market capitalization over $800 million at current prices, already prices in aggressive assumptions about the firm's future ETH gains. Retail investors chasing the momentum should tread in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Why BitMine Immersion Technologies Stock Skyrocketed Today
BitMine's explosive rally continued Thursday as investors placed bullish bets on the company's Ethereum treasury stratgey. Investors are excited to have Wall Street strategist Tom Lee's appointment as board chairman. BitMine is aiming to be a leading Ethereum investment company, similar to what Strategy has done with Bitcoin. 10 stocks we like better than Bitmine Immersion Technologies › BitMine Immersion Technologies (NYSEMKT: BMNR) stock posted another day of explosive gains in Thursday's trading -- ending the session up 130.8%. The company's share price is up roughly 2,450% over the last week. News that Wall Street strategist Tom Lee is joining Bitmine in a push to make Ethereum's Ether token central to Bitmine's crypto holdings has helped kick off a massive rally for the stock. In conjunction with the company naming Lee as chairman of its board of directors, the company announced that it was raising $250 million in a private funding round. BitMine stock began rocketing higher Monday after Tom Lee's board appointment and the massive funding news hit the wire. Lee is the leader of Fundstrat, an investing research firm, and he's been a prominent long-term bullish champion for Bitcoin and other cryptocurrencies. He's scored some big wins with his calls, and his name carries a lot of weight in the crypto space. By selling shares of its stock through a private listing, BitMine will raise $250 million in funding. The capital that it raises through the stock sale will be used with the goal of turning the company into one of the largest publicly traded Ethereum investment companies. The development comes amid rising interest in stablecoins running on the Ethereum network. Tom Lee has an impressive pedigree in cryptocurrency investment, and having him head up BitMine's board of directors will likely open up some big opportunities and help secure additional funding. BitMine will likely continue to sell stock in order to build up its Ethereum holdings, seemingly aiming to do with Ethereum what Strategy has done with Bitcoin. If Ethereum's value continues to rise, this can help BitMine to issue more stock -- potentially creating a cycle that still supports huge gains for its share price. If Ethereum continues to rise over the long term, this type of strategy can have big payoffs -- but there's also big downside risk if the token's valuation falters. Before you buy stock in Bitmine Immersion Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitmine Immersion Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy. Why BitMine Immersion Technologies Stock Skyrocketed Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
a day ago
- Business
- Time of India
Bitmine Immersion - BMNR stock soars 70% in wild morning rally, smashes 52-week high - what's driving the rally?
Bitmine Immersion stock skyrockets over 60% in wild morning trade, hits fresh 52-week high — Bitmine Immersion Technologies stock (BMNR) surged more than 60% during Wednesday's morning session, drawing heavy attention from traders and investors alike. At 10:36 AM EDT, shares were trading at $97.00, up a jaw-dropping 63.93% from the prior session. This explosive move has shattered its previous 52-week high and set a new benchmark for the stock's price action. The rally came as a surprise to many, especially since the stock opened quietly at $57.28 — below its previous close of $58.50. Yet within the first hour of trading, Bitmine Immersion stock catapulted upwards, hitting $97.00 and triggering a wave of high-volume buying. Over 13 million shares had traded hands by mid-morning, already surpassing the stock's average daily volume of 9.7 million. This unusual spike suggests strong market momentum and growing interest in BMNR. Why is Bitmine Immersion stock surging so fast? The rally in BMNR shares isn't just random — it's backed by a string of bold announcements that have flipped investor sentiment nearly overnight. Here's what's happening: 1. A $250 million Ethereum treasury play The biggest catalyst? Bitmine announced a $250 million private placement to raise capital for purchasing Ethereum (ETH) as its core treasury reserve. The plan includes issuing about 55 million shares at $4.50 each — a move that positions the company as a kind of "MicroStrategy of Ethereum." Investors familiar with MicroStrategy's Bitcoin-centric strategy see Bitmine's ETH pivot as a similar bet on blockchain's future — but this time centered on the Ethereum ecosystem. Live Events 2. Tom Lee joins as Chairman — and brings credibility Adding fuel to the fire, crypto bull Tom Lee — the well-known strategist at Fundstrat — has officially joined Bitmine as its new Chairman. Lee's involvement immediately legitimizes the firm's pivot toward Ethereum. His bullish stance on ETH, especially as regulatory clarity improves for stablecoins and ETH adoption grows, is seen as a massive tailwind. 3. Retail frenzy, short squeeze, and tech buzz With more than 23 million shares traded in a single session and a previous float under 10 million, BMNR may be experiencing a classic short squeeze . At the same time, renewed investor interest in immersion cooling technology — which Bitmine uses for crypto mining and plans to scale into AI/data center applications — has added another layer of speculative enthusiasm. BMNR stock performance: Just how big is this rally? Here's how the numbers stack up as of this morning: Metric Data Current Price $103.79 (up ~70% intraday) 52-Week High $129.86 (hit during today's session) Day's Low $55.00 Opening Price $57.28 Trading Volume 23.3 million+ shares 5-Day Gain From ~$4.50 to over $100 — a staggering +2000% surge Just a few days ago, on June 27 , the stock was trading under $5. By July 3 , it had exploded past $100 , making it one of the most volatile and talked-about small caps on the market. What does the $97 mark mean for Bitmine Immersion stock? Hitting the $97.00 intraday high is more than just a psychological milestone — it could now act as a key resistance level. Whether the stock can hold near this price or push beyond it will be a major signal for traders heading into the next few sessions. If Bitmine Immersion stock consolidates above $90, it may indicate buyers are confident this level is sustainable. However, any sharp drop below that could trigger profit-taking and fast reversals. Traders are likely watching for signs of support and resistance around $90 and $97, with special attention to closing strength. Is this surge in Bitmine Immersion stock sustainable? Sustainability is the big question. A 63.93% single-session gain, especially one fueled by trading momentum and not breaking news, tends to raise eyebrows. While some might argue the volume validates the move, stocks that rise this fast often fall just as quickly. With the stock trading at new highs and volume still growing, volatility is almost guaranteed. Day traders may ride the wave, but longer-term investors should watch for signals of consolidation, or risk being caught in a correction if enthusiasm fades. What does Bitmine Immersion actually do? Bitmine is a micro-cap firm historically focused on Bitcoin and Ethereum mining using immersion cooling technology — a system that reduces heat in high-power servers. But with its new ETH treasury strategy, the company is pivoting into crypto asset management, a bold move that could redefine its business model. Despite fast growth, the company is not yet profitable, with recent filings showing a net margin of –78%. However, revenue growth is strong — estimated at +70% YoY and over 295% 3-year CAGR, highlighting the rapid expansion of its operations. Should you buy or beware? The bull case : Bitmine now offers a public equity path to ETH exposure , which may appeal to institutions and investors who want to gain crypto exposure without holding actual tokens. Tom Lee's involvement boosts credibility and long-term vision. Immersion cooling tech has real utility beyond crypto — in AI and data center applications. The bear case : The company remains highly speculative and unprofitable . Massive stock dilution from the private placement could pressure long-term value. Volatility is extreme — and history shows BMNR has suffered steep crashes before (–88% drawdown in 2022). What should investors watch in the next trading sessions? Going forward, investors will want to watch: Whether Bitmine holds above $90 at close How trading volume changes in the next 48 hours Any official updates or filings from Bitmine Immersion Technologies Broader market sentiment on tech and crypto mining stocks As of now, Bitmine Immersion stock has moved far outside its typical trading range, so each session will offer critical clues on whether the price surge was a one-time event or the beginning of a bigger trend. Today Bitmine Immersion stock (BMNR) Metric Value Stock Ticker BMNR Opening Price $57.28 Previous Close $58.50 Intraday High (as of 10:36 AM EDT) $97.00 Current Price (10:36 AM EDT) $97.00 (Up 63.93%) Price Gain +$38.50 Total Shares Traded Over 13 million Average Daily Volume Approx. 9.7 million New 52-Week High $97.00 Key Resistance Level $97.00 Support Level to Watch $90.00 Could Bitmine Immersion stock trigger wider sector movement? It's possible. When a stock like BMNR explodes this fast, it can draw attention to other small-cap tech or blockchain-related stocks. If momentum traders jump to similar names, ripple effects could hit the broader micro-cap space. Investors should monitor peers in the blockchain mining and tech infrastructure sectors. Bitmine Immersion stock's massive morning rally has set Wall Street buzzing. With more than 13 million shares traded and a price surge of over 60%, the stock has become one of the day's biggest movers. Whether this is the beginning of a longer rally or just a short-lived spike depends on upcoming price action, volume patterns, and any potential news from the company. For now, all eyes remain on BMNR and whether it can maintain its momentum in a highly volatile market. FAQs: Q1: Why is Bitmine Immersion stock up 60% today? Bitmine Immersion stock surged due to high trading volume and strong market interest. Q2: Will Bitmine Immersion stock keep rising? BMNR's future depends on holding above $90 and sustaining buyer momentum.
Yahoo
3 days ago
- Business
- Yahoo
Can Fundstrat's Tom Lee Make BitMine Immersion Stock the ‘MicroStrategy of Ethereum'?
BitMine Immersion (BMNR) shares soared more than 500% on Monday after the crypto mining firm named Fundstrat's head of research Tom Lee its new chairman of the board. More importantly, the Los Angeles-headquartered company announced plans to raise about $250 million through a private placement, proceeds from which, it confirmed, will be used to buy Ethereum (ETHUSD). Jeff Bezos Unloads $5.4B in Amazon Shares: Should You Buy or Sell AMZN Stock Now? Options Flow Alert: Bulls Making Their Move in GOOGL Stock Is Palantir Stock a Buy, Sell, or Hold on New Nuclear Deal? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Today's rally has inflated BMNR's market cap to well over $150 million. Under Tom Lee as chairman, BitMine plans on using Ether as its primary treasury reserve asset. According to the market veteran, ETH stands to benefit rather significantly now that the U.S. Senate has approved the much-anticipated 'Genius Act.' The legislation clears the path for stablecoins to traverse further into mainstream adoption, which could benefit the world's second-largest crypto since 'Ethereum is the blockchain where the majority of stablecoin payments are transacted,' Lee said in a statement today. Moving forward, the mining company will use ETH held per share as a key performance metric, he added. In short, Lee aims at transforming BitMine Immersion shares into the 'MicroStrategy of Ethereum.' Tom Lee has picked Ethereum as the future reserve asset for BMNR since he remains bullish on what the future holds for the cryptocurrency. According to his forecast from late 2024, ETH should hit $5,000 by the end of this year, indicating potential for a 100% rally over the next six months. However, in the near term, it's reasonable to question whether BitMine Immersion stock will be able to sustain its gains accumulated this morning. Investors should learn from the example of SharpLink (SBET) as well, which announced a similar Ether strategy last month, resulting in an explosive initial rally that all but faded just as quickly in the subsequent sessions. Caution is warranted in chasing the cosmic run in BMNR shares today also because no Wall Street analysts tracked by Barchart currently cover this BTC mining firm, indicating it's not on the radar for institutional investors – at least for now. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
