Bitmine Adds 98,852 ETH, But BMNR Stock Is Just $2 Away From Disaster

BitMine Immersion Technologies Inc (NYSE:BMNR) added 98,852 Ethereum (CRYPTO: ETH) in the past week as the stock trades around $31 on Monday, just $2 above a critical support level.

BMNR Holdings Hit 4 Million ETH

Bitmine now owns 3.37% of ETH’s circulating supply, two-thirds of the way to Chairman Thomas Lee’s “Alchemy of 5%” target.

The company crossed 4.066 million ETH after just 5.5 months of aggressive accumulation, cementing its position as the world’s largest Ethereum treasury. 

Total assets including $1 billion cash, 193 Bitcoin (CRYPTO: BTC), and a $32 million stake in Eightco Holdings Inc. (NASDAQ:ORBS) bring the balance sheet to $13.2 billion.

Stock Trades Like A Mega-Cap

Bitmine stock now trades $1.7 billion per day in average dollar volume, ranking 66th among all U.S. equities—behind Wells Fargo & Co. (NYSE:WFC) and ahead of Chevron Corp. (NYSE:CVX).

That liquidity rivals many S&P 500 (NYSE:SPY) components despite an 82% drawdown from July’s parabolic spike above $160. 

Institutional backing from ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, and Galaxy Digital has kept flow steady even through the collapse.

The company remains the #2 global crypto treasury behind Strategy Inc. (NASDAQ:MSTR), which holds 671,268 BTC valued at $59 billion.

Staking Infrastructure Goes Live 2026

Bitmine plans to launch the “Made in America Validator Network” (MAVAN) in early 2026, positioning itself as infrastructure for institutional staking demand.

Lee compared the GENIUS Act and SEC’s Project Crypto to the 1971 end of Bretton Woods—calling it equally transformational for financial services. 

That regulatory clarity thesis underpins Bitmine’s bet that ETH becomes the settlement layer for tokenized Wall Street.

The company will hold its annual shareholder meeting at the Wynn Las Vegas on Jan. 15, 2026, with votes on increasing authorized shares and approving Lee’s performance-based compensation.

Chart Shows Make-Or-Break Setup

BMNR Price Analysis on TradingView

BMNR is trading at $31.20, down 0.4%, and remains trapped in a tightening symmetrical triangle formed since mid-November. 

The compression signals an imminent breakout or breakdown.

Support sits at $29.60 i.e. the December low. 

A break below exposes the stock to pre-spike levels around $10-$15 with limited historical support in between.

Resistance stands at $35-$36 initially, then $40 where the Supertrend indicator sits. 

The SAR dots at $38.78 reinforce bearish structure—both momentum indicators need to flip below price to signal any trend reversal.

More substantial resistance exists at $48-$50, the October consolidation zone, but bulls need to reclaim $40 first to regain control.

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