Bitmine Immersion - BMNR stock soars 70% in wild morning rally, smashes 52-week high - what's driving the rally?
— 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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Quant Mutual Fund raises mid and small cap allocation across equity and hybrid funds, sees buying opportunity in 7 sectors
Quant Mutual Fund has said their overall portfolio remains tilted towards largecaps, and the exposure in select mid and small caps has been increased in most of their equity and hybrid funds. The fund house believes that select buying opportunities are visible in certain sectors viz. PSU, Infrastructure, Hotels & Hospitality, Pharmaceuticals, Materials, Retail and Telecom. 'Our portfolio at Quant Mutual Fund remains tilted towards large caps and overall liquidity of the portfolio is good; select mid and small caps exposure has been increased in most of the equity and hybrid schemes. We reiterate that select buying opportunities are visible in certain sectors viz. PSU, Infrastructure, Hotels & Hospitality, Pharmaceuticals, Materials, Retail and Telecom,' the fund house said in its monthly release. Also Read | Equity mutual funds offer up to 32% return in first six months of 2025. Sectoral, thematic funds rule return chart Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Benefits of Trading Bitcoin CFDs IC Markets Learn More Undo The fund house's 'predictive analytics' continues to endorse risk-on for India, and with the right policy support, India stands a good chance of benefiting from global supply chain shifts in the medium-term. 'With a large domestic market (as large as China's in 2006-07), India can bank upon strong manufacturing-led growth for many years ahead,' the release further said. The non-linearity in global macro-economic trends is increasing as financial markets are now more driven by geopolitical volatility, fiscal and policy interventions and the fund house expects both QE & QT to coexist through this decade as indices related to global uncertainties will remain elevated for long. Live Events 'We continue to believe that a significant US Dollar devaluation is the only practical way to address US' spiraling debt crisis. The only question is how this will be carried out or triggered,' the release highlights. On the geopolitical front, the US-China trade war bumped in to some degree of de-escalation as the US agreed to a 90-day truce to reduce tariffs on Chinese imports to 30% from 145% earlier. After disputes over critical minerals and US accusations of trade deal violations, the pause offers temporary relief. The Sandeep Tandon-led fund house believes that there is definitely a sense of resilience being exhibited by global markets, shrugging off armed conflicts, tariff-induced inflation and economic slowdowns. The US' 'Big Beautiful Bill,' aimed at boosting domestic manufacturing through subsidies, has sparked optimism in industrial stocks but raised concerns about rising deficits. The US 10-year Treasury yield climbed to 4.50%, reflecting higher inflation expectations and reduced appeal of bonds. Change in nomenclature The monthly release further mentioned that the fund house has revised the names of the four schemes with effect from June 30, 2025 which is in line with SEBI's directive to the mutual fund industry. 'SEBI aims to improve transparency, comparability and investor understanding by standardizing how mutual fund schemes are classified, disclosed and communicated to investors. No action is needed at your end about your existing investments with us. All new investments into the following schemes made on or after 30th June, 2025 will have to be made under the revised nomenclature,' the release highlighted. Also Read | Quant Mutual Fund announces change in name of 4 funds Quant Absolute Fund is renamed as Quant Aggressive Hybrid Fund. Quant Active Fund is renamed as Quant Multi Cap Fund. The name of Quant Multi Asset Fund is changed to Quant Multi Asset Allocation Fund. And Quant ESG Equity Fund is known as Quant ESG Integration Strategy Fund. The release further informed about the upcoming NFO of Quant Equity Savings Fund which will open for subscription on July 7 and close on July 21 and the fund is designed to help investors capitalize on long-term equity growth opportunities and accrual income through arbitrage and high-quality bonds. New fund offer (NFO) While commenting on why one should go for Quant Equity Savings Fund, the fund house said that this fund is an 'All-weather' scheme with moderate risk and a tax efficient alternative for risk-averse investors, including first time equity investors and investors migrating from fixed deposits, seeking lower volatility as compared to traditional equity funds and long-term wealth creation. The Quant Equity Savings Fund's equity portfolio will be managed as a flexi cap investment strategy with a large cap bias for stability and limited exposure to mid/ small-cap stocks in a relatively stable environment. Secondly, the arbitrage and hedging strategy will protect the portfolio in the risk-averse phase. And lastly, the scheme's debt portfolio seeks to generate stable accrual income by investing in high-quality corporate bonds and government securities with low credit risk and dynamic duration management based on interest rate outlook. The scheme will be rebalanced across market cycles through 'Predictive Analytics' tools and the VLRT Framework with a focus on delivering superior risk-adjusted returns and lower drawdowns during market corrections through dynamic asset allocation and hedging. Also Read | MF Tracker: Can this multi asset fund with top sharpe ratio sustain its outperformance? Quant Equity Savings Fund combines twin objectives of stability and growth to help risk-averse investors with their long-term wealth creation goal. Quant Mutual Fund further appreciated the continued trust and confidence by the investors' in the fund house. 'As we navigate changing markets, our commitment remains focused on disciplined investing and long-term value. Should you have any questions or need assistance, our team is here to help,' the fund house said.
Time of India
9 hours ago
- Time of India
Punjab's cereal dominance faces grain drain
Chandigarh: While Punjab continues to be a major contributor to India's agricultural economy — particularly in cereal production—the state is gradually losing its relative share in the national output as faster-growing states like Madhya Pradesh and Telangana catch up. At the same time, neighbouring states such as Haryana and Himachal Pradesh are registering gains by diversifying into horticulture, livestock, and other allied sectors, better aligning with the emerging national trends. According to the Statistical Report on Value of Output from Agriculture and Allied Sectors (2011–12 to 2023–24), released by the ministry of statistics and programme implementation (MoSPI), Punjab's gross value of output (GVO) from cereals in 2023–24 stood at Rs 47.1 thousand crore. This keeps Punjab among the top three cereal-producing states, along with Uttar Pradesh and Madhya Pradesh. However, Punjab's share in the national cereal GVO declined from 11.97% in 2011–12 to 11.01% in 2023–24, pointing to a phase of relative stagnation. By contrast, Madhya Pradesh's cereal GVO surged from Rs 20.9 thousand crore to Rs 47.1 thousand crore over the same period—more than doubling its share and catching up with Punjab. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Haryana, another grain-centric state, posted a cereal GVO of Rs 28.1 thousand crore in 2023–24, reflecting steady output, though without a major increase in its national share. The data highlights Punjab's continued dependence on the paddy-wheat cycle. While the state's agricultural infrastructure remains strong, its horticulture, livestock, and allied sectors are comparatively underdeveloped. Nationally, agriculture is undergoing a structural shift. The share of crops in the total agricultural GVO declined from 62.4% in 2011–12 to 54.1% in 2023–24, while the contribution of the livestock sector grew from 25.6% to 31.2%. The fisheries sector also expanded, with its share rising from 4.2% to 7.0%. Livestock GVO at the national level nearly doubled, from Rs 4.88 lakh crore in 2011–12 to Rs 9.19 lakh crore in 2023–24. Punjab, however, recorded a slower growth rate in this segment. The state's livestock GVO rose from Rs 26,660.05 crore in 2011–12 to Rs 37,983.56 crore in 2023–24, an increase of 42.47%—well below the national average of 88%. The livestock GVO includes seven product categories: milk, meat, eggs, wool and hair, dung, silkworm cocoons and honey, and increment in livestock. In Punjab, milk continues to dominate, accounting for 84.52% of the state's total livestock GVO in 2023–24, up from 82.15% in 2011–12. Meat output rose modestly to Rs 3,871.67 crore in 2023–24 from Rs 2,983.35 crore in 2011–12. Eggs and other products remain marginal in contribution. In contrast, states like Tamil Nadu, Rajasthan, Uttar Pradesh, Andhra Pradesh, and Maharashtra have diversified their livestock portfolios, making significant gains from poultry, meat, and fisheries. "Punjab's agrarian growth model has reached a saturation point," said Prof Ranjit Singh Ghuman, agricultural economist. "With nearly 80% of the state's geographical area already under cultivation, there's no room left to expand outward. The real challenge now is to grow smarter—by shifting away from over-dependence on paddy and wheat and incentivising diversification into high-value crops, livestock, and agro-processing. Without this structural shift, both the ecological and economic sustainability of Punjab's agriculture remain at serious risk." FOR TABLE HITTING A PLATEAU State | 2011-12 | 2023-24 Uttar Pradesh | 62.6 | 73.6 Madhya Pradesh | 20.09 | 47.1 Punjab | 40.3 | 47.1 Telangana | 10.5 | 30.4 Haryana | 26.1 | 28.1 Total of Five States | 160.4 | 226.3 All-India | 336.4 | 427.6 (Gross value of output in Rs 000 crore) Punjab's agrarian growth model has reached a saturation point. With nearly 80% of the state's geographical area already under cultivation, there's no room left to expand outward. Prof Ranjit Singh Ghuman | agricultural economist MSID:: 121993707 413 |
Time of India
10 hours ago
- Time of India
Cryptocurrency Live News & Updates : Polygon Surpasses Ethereum in NFT Sales
04 Jul 2025 | 11:45:12 PM IST Polygon's price has plummeted this year, nearing its lowest point, but it recently outperformed Ethereum in weekly NFT sales, indicating a potential breakout. Polygon has experienced a significant decline in price, dropping over 76% this year, yet it has recently surpassed Ethereum in weekly NFT sales, with a 52% increase to $24 million. This surge is largely attributed to the Courtyard platform. Meanwhile, Ethereum celebrates its 10th anniversary amid rising competition from blockchains like Solana and Aptos, as it focuses on enhancing interoperability and community building. In a different arena, Trump-linked World Liberty Financial is undergoing a governance vote to determine the tradability of its WLFI token, a crucial test of its decentralization commitment. Lastly, NEAR Protocol faced a 5% decline despite the launch of Bitwise's NEAR Staking ETP, which aims to boost institutional interest. As the crypto market navigates these developments, the interplay between price movements, governance decisions, and technological advancements remains pivotal. Show more
