Bitmine Stock Forms Golden Cross After Ethereum Pivot Rally

Bitmine Immersion Technologies (BMNR) stock has formed a golden cross for the first time since its Ethereum pivot rally in June. A golden cross occurs when a stock's short-term moving average crosses above its long-term average, considered a bullish signal by traders.

The last time this happened was on 30 June 2025, when Bitmine pivoted to buying Ethereum as part of its corporate strategy. As of last week, the company's Ethereum holdings topped 6 million tokens, accounting for about 4.9% of the supply, with total holdings at $17.2 billion.

Despite this positive development, BMNR shares remain 59% below their 52-week high of $65.60. The stock has closed Tuesday at $26.73, up about 109% from its June low.