Bitmine Acquires 98,852 ETH, Yet BMNR Stock Is Only $2 From Crisis

BitMine's Ethereum Accumulation: BitMine Immersion Technologies Inc has acquired 98,852 Ethereum in the past week, bringing its total to 4.066 million ETH, making it the largest Ethereum treasury globally and nearing its Chairman's target of 5% of ETH's circulating supply.

Financial Position and Liquidity: The company boasts total assets of $13.2 billion, including $1 billion in cash and 193 Bitcoin, with its stock trading at an average volume of $1.7 billion daily, ranking 66th among U.S. equities.

Future Plans and Regulatory Context: BitMine plans to launch the "Made in America Validator Network" in early 2026, aiming to establish itself as a key player in institutional staking, while also positioning Ethereum as a potential settlement layer for tokenized financial services.

Stock Performance and Technical Analysis: BitMine's stock is currently trading at $31.20, facing a tightening symmetrical triangle pattern that suggests an imminent breakout or breakdown, with critical support at $29.60 and resistance levels at $35-$36 and $40.