Ethereum Whale Stock: BMNR Soars as BitMine Immersion Grabs 2% of ETH Supply

This comprehensive article by an unspecified author examines BitMine Immersion Technologies (BMNR), a company that has transformed from a crypto mining operation into the world's largest corporate Ethereum holder.

BitMine's stock surged nearly 12% on October 6, 2025, following news that the company now holds 2.83 million ETH tokens (over 2% of all Ethereum) plus other assets, totaling $13.4 billion in crypto and cash holdings. Led by strategist Tom Lee, the company has executed a dramatic pivot from traditional mining to a digital asset treasury model, successfully raising $365 million in September at a 14% premium to fund additional Ethereum purchases. The ambitious "Alchemy of 5%" plan aims to eventually control 5% of all ETH tokens.

• Stock exhibits extreme volatility with a 52-week range from under $4 to $161, currently trading around $63
• Attracts high-profile institutional investors including ARK Invest's Cathie Wood and backing from major crypto firms
• Functions essentially as a leveraged Ethereum proxy with minimal traditional revenue ($5.4 million) but massive crypto exposure
• Faces significant risks from crypto market volatility, regulatory changes, and shareholder dilution concerns despite strong social media buzz and trading volumes exceeding $3 billion daily