Bitmine Uplists to NYSE, Expands Ethereum Holdings

Written by Emily J. Thompson, Senior Investment Analyst

Source: PRnewswire

Updated: 6 hours ago

0mins

BMNR-2.01%

COIN-1%

ORBS-2.77%

Should l Buy BMNR?

Source: PRnewswire

Ethereum Holdings Surge: Bitmine currently owns over 4.21% of the total Ethereum supply, amounting to 5,078,386 ETH valued at approximately $12.1 billion, showcasing the company's robust momentum in crypto asset accumulation, which is expected to further enhance its market position.
Significant Uplisting: Bitmine successfully uplisted from NYSE American to the New York Stock Exchange (NYSE) on April 9, 2026, marking an increase in the company's recognition in capital markets, which is anticipated to attract more institutional investor interest.
Institutional Investor Backing: Supported by prominent institutional investors including ARK's Cathie Wood and Pantera, Bitmine's credibility and influence in the crypto market are significantly bolstered, aiding its goal of acquiring 5% of Ethereum supply.
Strong Revenue Potential: Bitmine's total staked ETH stands at 3,701,589, with projected annual staking revenues of $264 million, demonstrating its strong capabilities in crypto asset management and revenue generation, further solidifying its position as the world's largest Ethereum treasury.

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Analyst Views on BMNR

Wall Street analysts forecast BMNR stock price to rise

2 Analyst Rating

2 Buy

0 Hold

0 Sell

Moderate Buy

Current: 22.140

Low

39.00

Averages

43.00

High

47.00

Current: 22.140

Low

39.00

Averages

43.00

High

47.00

B. Riley

Buy

maintain

$30 -> $33

2026-03-26

Reason

B. Riley

Price Target

$30 -> $33

AI Analysis

2026-03-26

maintain

Buy

Reason

B. Riley raised the firm's price target on Bitmine Immersion to $33 from $30 and keeps a Buy rating on the shares. BitMine Immersion launched MAVAN, its institutional-grade Ethereum staking platform, marking a key shift from passive ETH treasury management to active staking infrastructure, with about 67% of holdings already staked and potential annualized rewards of roughly $285M at full deployment, the analyst tells investors in a research note. Early adoption has been strong, and management plans to expand MAVAN to additional chains and services, supporting incremental revenue, diversification, and upside to the company's below-target multiple, B. Riley adds.

B. Riley

Buy

downgrade

$47 -> $30

2026-02-23

Reason

B. Riley

Price Target

$47 -> $30

2026-02-23

downgrade

Buy

Reason

B. Riley lowered the firm's price target on Bitmine Immersion to $30 from $47 and keeps a Buy rating on the shares. Price targets for covered Digital Asset Treasuries are being updated to reflect the current market environment, where most DATs largely track their underlying crypto assets, the analyst tells investors in a research note. Firms that diversify into fee-generating or operational businesses-such as staking, lending, custody, or trading infrastructure-tend to have more durable valuations, as recurring revenue can partially hedge against crypto volatility and support stable cash-flow-based multiples, the firm says.

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About BMNR

Bitmine Immersion Technologies Inc. is a Bitcoin (BTC) and Ethereum (ETH) network company, focusing on the accumulation of Crypto for long-term investment. The Company’s business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies, and general Bitcoin advisory to public companies. Its business integrates a digital asset treasury anchored in ETH with an operating platform historically focused on BTC mining and hosting. Through its legacy mining-as-a-service business, it provided turnkey infrastructure and management solutions for institutional clients seeking BTC mining exposure without direct operational obligations. The mining-as-a-services include hardware sales and deployment support; operations management, uptime maximization, and pool payout optimization; and financial reporting and compliance support.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Bitmine Registers Potential Resale of 501,545 Shares from Pier Two Acquisition

9 hours agoseekingalpha

Share Registration: Bitmine Immersion Technologies has registered a potential resale of 501,545 shares in its regulatory filing, which were issued as initial stock consideration for its Pier Two acquisition, reflecting the company's commitment to transparency in capital operations.
No Sale Proceeds: The company has stated that it will not sell any shares in this offering and will not receive any proceeds from stockholder sales, a strategy that may aim to maintain financial stability and investor confidence.
Market Trading Flexibility: Selling stockholders or their transferees may sell the shares in public or private transactions at market or negotiated prices, which could attract investor participation and enhance market liquidity.
Industry Context: As a crypto mining and services company, Bitmine Immersion Technologies is navigating Ethereum-centric market dynamics, and despite current price stagnation, its weekly purchases exceeding 100,000 ETH indicate strong market activity.

Bitmine Sets Record with 5.08 Million ETH Holdings

2 hours agoPRnewswire

Record ETH Holdings: Bitmine's ETH holdings have reached 5,078,386 tokens, representing 4.21% of the total supply, marking an impressive achievement of 84% of its 5% target in just 10 months, showcasing its strong growth potential in the crypto market.
Total Asset Growth: Bitmine's total assets, including cash and other cryptocurrencies, amount to $13.3 billion, with ETH valued at $8.8 billion, indicating the company's leading position in cryptocurrency investments.
Active Market Trading: Bitmine's stock is actively traded in the U.S. market, with an average daily trading volume of $845 million, making it the 129th most traded stock in the U.S., reflecting high investor interest in its growth potential.
Strategic Investment and Innovation: The launch of Bitmine's MAVAN platform focuses on providing ETH staking services for institutional investors, which is expected to enhance its market competitiveness and potentially generate up to $363 million in annual revenue for the company.

Bitmine Immersion Technologies Reaches $13.3B in Total Investments

6 hours agoseekingalpha

Total Investment Surge: Bitmine Immersion Technologies (BMNR) announced that its total crypto, cash, and 'moonshot' investments have reached $13.3 billion, showcasing strong market performance following its recent uplisting to the NYSE.
Ethereum Holdings Spike: The company added approximately 102,000 Ethereum (ETH) in just one week, bringing its total to around 5.08 million ETH valued at about $12 billion, which constitutes 4.21% of the global Ethereum supply, indicating an aggressive expansion strategy in the crypto market.
Significant Income Potential: With approximately 3.7 million ETH already staked, generating around $264 million annually, the potential income could rise to approximately $363 million once fully deployed, enhancing the company's financial stability and profitability.
Active Market Trading: BMNR's stock sees an average daily trading volume of about $845 million, ranking 129th in the U.S. market, reflecting strong investor interest in its growth potential, with the current stock price around $22.10, indicating market recognition of its valuation.