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Shares of Bitmine Immersion Technologies Inc (NYSE:BMNR) are trading higher Wednesday morning, hovering near $30, as the company aggressively expands its cryptocurrency treasury amid market volatility. Here’s what investors need to know.
What To Know: Under chairman Tom Lee, BitMine has doubled down on its Ethereum (CRYPTO: ETH) “supercycle” thesis, recently purchasing an additional 69,822 ETH.
This acquisition pushes the company's total treasury to approximately 3.63 million ETH, representing roughly 3% of the token’s entire global supply.
While Lee argues that current prices offer “asymmetric risk/reward,” the strategy has come at a steep short-term cost. With an average cost basis of roughly $3,997 per token, the portfolio is currently carrying billions in unrealized losses as Ethereum trades near $2,900.
BitMine's Ethereum accumulation dwarfs traditional corporate treasury moves, but it also magnifies risk. If ETH prices rebound toward prior cycle highs, the company could swing from multi-billion-dollar unrealized losses to record unrealized gains quickly, but the magnitude of risk should not be overlooked.
Despite these paper losses, investors appear encouraged by BitMine’s operational moves. The company also plans to launch a “Made in America” validator network in early 2026 to generate yield on its massive holdings.
Technically, BMNR stock is attempting a recovery after bouncing off critical support near $25 earlier this week, though it faces resistance as it attempts to reclaim the $33 level.
Benzinga Edge Rankings: Benzinga Edge stock rankings indicate that the long-term price trend is positive for BMNR.
BMNR Price Action: BitMine Immersion shares were up 5.24% at $30.39 at the time of publication on Wednesday, according to Benzinga Pro data.
Read Also: Apple Stock Breaks To All-Time Highs — Succession Clarity Unlocks New Chapter
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in BitMine Immersion’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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