Bitmine Immersion Stock Soars on Ethereum Treasury Disclosure

BitMine Immersion Technologies Inc.'s (NYSE:BMNR) stock surged more than 5% in Monday's premarket trading as cryptocurrency prices climbed and the company disclosed a larger Ethereum treasury. The surge follows news that BitMine's Ethereum holdings reached 5,983,940 tokens as of September 20.

At an Ethereum price of $2,688, the position represented about 4.9% of the cryptocurrency's 122.1 million-token supply. The company reported a total crypto, cash, marketable securities, and other investments of $17.1 billion, which included 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $105 million stake in Eightco Holdings Inc. (NASDAQ:ORBS).

Chairman Tom Lee stated that BitMine acquired another 27,562 Ethereum tokens during the past week and expects institutional crypto exposure to increase during the final quarter of 2026.