Shares of BitMine Immersion Technologies Inc (NYSE:BMNR) are trading higher Wednesday, continuing a bullish trend driven by the company’s aggressive expansion of its Ethereum (CRYPTO: ETH) holdings. Investor confidence in 2025 has been growing around BitMine’s strategic pivot to becoming a major Ethereum treasury, viewing it as a prime vehicle for exposure to the cryptocurrency.
What To Know: The company on Monday announced its total cash and crypto holdings have surpassed $11.6 billion. This includes a treasury of over 2.65 million ETH, accounting for more than 2% of the total circulating supply of the digital asset.
The recent momentum in shares follows a late September announcement of a $365 million registered direct offering, reinforcing the company’s commitment to its goal of acquiring 5% of the total ETH supply.
Backed by prominent institutional investors and led by chairman Tom Lee, BitMine remains a focal point for traders betting on the future of Ethereum.
Benzinga Edge Rankings: Highlighting this powerful trend, Benzinga Edge rankings show the stock has an exceptional Momentum score of 99.30.
BMNR Price Action: BitMine Immersion shares were up 4.14% at $54.07 at the time of publication Wednesday, according to Benzinga Pro.
The stock is well above its 50-day moving average of $47.62, indicating strong bullish momentum. Key resistance is observed near the recent high of $54.46, while support can be identified around the 50-day moving average.
Read Also: Bitcoin Hits $116,000 As Ethereum, XRP, Dogecoin Rally On Weak Dollar
How To Buy BMNR Stock
By now you're likely curious about how to participate in the market for BitMine Immersion – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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