Latest news with #Bitmine
Yahoo
a day ago
- Business
- Yahoo
1,000% Surge: Crypto Miner Bitmine Soars After $250M Ethereum Bet and Tom Lee Appointment
Shares of Bitmine Immersion Technologies (BMNR) have surged more than 1,000% following a bold three-part announcement that's ignited investor excitementand speculation. The company revealed a $250 million private placement offering to fund an Ethereum treasury strategy, echoing the path taken by MicroStrategy with Bitcoin. The raise was led by MOZAYYX and included some of the most active players in crypto investing todayFounders Fund, Galaxy Digital, Kraken, Pantera, Republic Digital, DCG, and others. Bitmine intends to use the proceeds to build an Ethereum-heavy balance sheet, betting on the long-term value of the world's second-largest blockchain. Warning! GuruFocus has detected 6 Warning Signs with BMNR. At the same time, Bitmine named Tom Lee, the founder of Fundstrat and a long-time crypto bull, as chairman of the board. Lee is no stranger to big callshis early conviction in Bitcoin and tech stocks has earned him a loyal Wall Street following. On CNBC, Lee argued that Ethereum could eventually rival Bitcoin due to its critical role in the booming stablecoin economy. Stablecoins now generate a large portion of the fees on Ethereum's network, a trend that manyincluding U.S. Treasury officialsbelieve is just getting started. His presence at Bitmine adds more weight to the company's shift from miner to long-term crypto asset holder. The stock's parabolic rise has caught attention, but it also comes with a familiar warning: crypto-treasury strategies may be powerful narrative drivers, but they introduce a new layer of volatility. Bitmine's future will now be tightly linked to Ethereum's trajectoryand sentiment can turn fast in this space. For investors bullish on ETH's long-term use case, direct exposure might be the simplerand less volatilepath. This article first appeared on GuruFocus. 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
Yahoo
a day ago
- Business
- Yahoo
1,000% Surge: Crypto Miner Bitmine Soars After $250M Ethereum Bet and Tom Lee Appointment
Shares of Bitmine Immersion Technologies (BMNR) have surged more than 1,000% following a bold three-part announcement that's ignited investor excitementand speculation. The company revealed a $250 million private placement offering to fund an Ethereum treasury strategy, echoing the path taken by MicroStrategy with Bitcoin. The raise was led by MOZAYYX and included some of the most active players in crypto investing todayFounders Fund, Galaxy Digital, Kraken, Pantera, Republic Digital, DCG, and others. Bitmine intends to use the proceeds to build an Ethereum-heavy balance sheet, betting on the long-term value of the world's second-largest blockchain. Warning! GuruFocus has detected 6 Warning Signs with BMNR. At the same time, Bitmine named Tom Lee, the founder of Fundstrat and a long-time crypto bull, as chairman of the board. Lee is no stranger to big callshis early conviction in Bitcoin and tech stocks has earned him a loyal Wall Street following. On CNBC, Lee argued that Ethereum could eventually rival Bitcoin due to its critical role in the booming stablecoin economy. Stablecoins now generate a large portion of the fees on Ethereum's network, a trend that manyincluding U.S. Treasury officialsbelieve is just getting started. His presence at Bitmine adds more weight to the company's shift from miner to long-term crypto asset holder. The stock's parabolic rise has caught attention, but it also comes with a familiar warning: crypto-treasury strategies may be powerful narrative drivers, but they introduce a new layer of volatility. Bitmine's future will now be tightly linked to Ethereum's trajectoryand sentiment can turn fast in this space. For investors bullish on ETH's long-term use case, direct exposure might be the simplerand less volatilepath. This article first appeared on GuruFocus.
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.
Globe and Mail
3 days ago
- Business
- Globe and Mail
Why Shares of Bitmine Immersion Technologies Are Skyrocketing Today
Shares of the Bitcoin mining company Bitmine Immersion Technologies (NYSEMKT: BMNR) had blasted nearly 50% higher as of 10:41 a.m. ET today. The stock continued its impressive run this week after the company announced yesterday that it would pursue an Ethereum treasury strategy. Following Strategy's playbook Bitmine announced yesterday that it had raised $250 million in a private placement offering that it will use to purchase Ethereum, following a similar strategy initially implemented by Strategy (formerly MicroStrategy) with Bitcoin. The transaction was led by MOZAYYX and also included participation from the Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee, the founder of Fundstrat and a contributor on CNBC. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Bitmine also announced that Lee is now chairman of Bitmine's board of directors. Lee is an influential Wall Street strategist and has become famous for his bullish calls on the stock market over the last few years. Lee and Fundstrat are also big fans of Bitcoin. On CNBC yesterday, Lee said Ethereum could essentially become the next Bitcoin, primarily because of its importance to the burgeoning stablecoin business, which many experts including U.S. Treasury Secretary Scott Bessent believe is poised for massive growth. A significant portion of fees generated on Ethereum's blockchain already come from stablecoins. Be prepared for volatility Since the announcement of the private placement and Lee becoming chairman, Bitmine's stock has already rocketed 1,048%. While I am long-term bullish on Ethereum and understand Lee's argument for the world's second-largest cryptocurrency, I find these crypto-treasury vehicles too risky and volatile for retail investors. If you like Ethereum, simply buy Ethereum. 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 $722,181!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $968,402!* Now, it's worth noting Stock Advisor 's total average return is1,069% — a market-crushing outperformance compared to177%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
3 days ago
- Business
- Yahoo
Why Shares of Bitmine Immersion Technologies Are Skyrocketing Today
Bitmine recently announced a $250 million private placement offering. The company also plans to implement an Ethereum treasury strategy, similar to what MicroStrategy does with Bitcoin. Bitmine also recently named the well-known Wall Street strategist Tom Lee as chairman of its board of directors. 10 stocks we like better than Bitmine Immersion Technologies › Shares of the Bitcoin mining company Bitmine Immersion Technologies (NYSEMKT: BMNR) had blasted nearly 50% higher as of 10:41 a.m. ET today. The stock continued its impressive run this week after the company announced yesterday that it would pursue an Ethereum treasury strategy. Bitmine announced yesterday that it had raised $250 million in a private placement offering that it will use to purchase Ethereum, following a similar strategy initially implemented by Strategy (formerly MicroStrategy) with Bitcoin. The transaction was led by MOZAYYX and also included participation from the Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, DCG, Diametric Capital, Occam Crest Management, and Thomas Lee, the founder of Fundstrat and a contributor on CNBC. Bitmine also announced that Lee is now chairman of Bitmine's board of directors. Lee is an influential Wall Street strategist and has become famous for his bullish calls on the stock market over the last few years. Lee and Fundstrat are also big fans of Bitcoin. On CNBC yesterday, Lee said Ethereum could essentially become the next Bitcoin, primarily because of its importance to the burgeoning stablecoin business, which many experts including U.S. Treasury Secretary Scott Bessent believe is poised for massive growth. A significant portion of fees generated on Ethereum's blockchain already come from stablecoins. Since the announcement of the private placement and Lee becoming chairman, Bitmine's stock has already rocketed 1,048%. While I am long-term bullish on Ethereum and understand Lee's argument for the world's second-largest cryptocurrency, I find these crypto-treasury vehicles too risky and volatile for retail investors. If you like Ethereum, simply buy Ethereum. 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 $722,181!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $968,402!* Now, it's worth noting Stock Advisor's total average return is 1,069% — a market-crushing outperformance compared to 177% 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 Bram Berkowitz has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy. Why Shares of Bitmine Immersion Technologies Are Skyrocketing Today was originally published by The Motley Fool Sign in to access your portfolio
