BitMine Stock Nears Golden Cross Pattern Amid Growing Ethereum Holdings

BitMine's stock price is nearing a golden cross pattern as its Ethereum holdings approach 5%. The company's BMNR stock has broken above $26.90, forming a bullish flag, and is about to print a golden cross (50-day EMA > 200-day EMA) for the first time since last July.

This classic momentum setup is reinforced by fundamentals: BitMine is already at ~4.9% of ETH supply and is close to its 5% target, plus staking revenue is scaling with ETH price. The company has remained above the Supertrend indicator, a sign that bulls are in control.

BitMine's Ethereum holdings have grown significantly over the past 15 months as it acquired tokens through dollar-cost averaging (DCA). The company now holds over 6 million coins and is about to hit its target of owning 5% of Ethereum's total supply. Its staking revenue has increased to around $358 million with 5.1 million tokens being staked.