Why BitMine Immersion Technologies Stock Is Jumping Today
BitMine stock skyrocketed today after the company announced that it now held more than $500 million worth of Ethereum's token.
The company's valuation also got a boost from gains for Ethereum, but this bullish catalyst receded.
BitMine stock will likely continue to be highly volatile in the near term.
10 stocks we like better than Bitmine Immersion Technologies ›
BitMine Immersion (NYSEMKT: BMNR) is posting another day of big gains Monday. The share price was up 3.4% as of 3 p.m. ET. Ethereum 's token price was down roughly 0.2% over the previous 24 hours at the same point in the same day's trading. The stock had been up as much as 45.2% earlier today.
BitMine stock rocketed higher today after the company announced that it had made a $500 million investment in Ethereum. While the company's share price has pulled back significantly from the high reached earlier in the day's trading, it's still seeing strong gains in the session.
BitMine surges on big Ethereum investment
BitMine Immersion stock skyrocketed this morning after the company published a press release announcing that it now held more than $500 million of Ethereum's cryptocurrency token. The company's share price has pulled back significantly following massive gains early in the session, but it's still up big on the news.
BitMine stock is now up more than 760% over the last month. BitMine's valuation has seen a massive surge after it was announced that Fundstrat's Tom Lee had been named as chairman of the company's board of directors -- and that the company was moving forward with an aggressive push to become the market's leading Ethereum investment company.
What's next for BitMine?
Along with news of BitMine's big investment in Ethereum, the stock initially benefited from bullish momentum for the Ether token -- but the surge lessened with a wind down in the cryptocurrency's bullish momentum. BitMine's valuation will likely continue to see substantial moves in conjunction with the valuation shift for Ethereum's cryptocurrency.
BitMine will likely move forward with an equity and capital management and investment strategy with Ethereum similar to what Strategy (formerly known as MicroStrategy) has done with Bitcoin. By using either debt or new share offerings to fund Ethereum purchases, there's potential for BitMine to see explosive valuation gains if Ethereum's token price continues to climb -- but there's also big risk if the cryptocurrency crashes.
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 $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!*
Now, it's worth noting Stock Advisor 's total average return is1,047% — a market-crushing outperformance compared to180%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 July 14, 2025
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