BMNR 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. A golden cross occurs when a stock's short-term moving average crosses above its long-term average, which is considered a bullish signal by traders.

The last time this happened was on June 30, 2025, when Bitmine pivoted to buying Ethereum as part of its corporate strategy. Since then, the company has made significant investments in Ethereum, with its holdings now topping 6 million tokens, accounting for about 4.9% of the supply, and totaling $17.2 billion.

Despite this bullish signal, BMNR stock remains 59% below its 52-week high of $65.60. The company's chairman, Tom Lee, believes that Bitmine has marked the bottom for the stock with its record-breaking buyback in July, where it purchased 21 million shares or $350 million.