BitMine Immersion (BMNR) Stock Rockets 700% on $13.4B Crypto Haul – Bubble or Breakout?
- Price Surge: BMNR has exploded this year, soaring roughly 700% (from ~$5 to a $161 peak) and trading ~mid-$50s (as of Oct 10, 2025) [1] [2]. The stock spiked to $63.22 on Oct. 6 and hovered in the low $60s before pulling back [3] [4]. Daily volume is extraordinary – often 40–70 million shares ($2–3 billion) – making BMNR one of the most actively traded U.S. stocks [5] [6].
- Massive Crypto Treasury: BitMine now holds about 2.83 million ETH (≈2% of all Ethereum) and 192 BTC, plus $456M cash, for total crypto/cash reserves around $13.4 billion [7] [8]. This makes BMNR the world’s largest corporate Ethereum holder and the second‑largest crypto treasury (behind MicroStrategy) [9] [10]. Leadership publicly targets acquiring…