BitMine Immersion Technologies Inc. (BMNR) stock rose more than 5% in Monday's premarket trading as cryptocurrency prices climbed and the company disclosed a larger Ethereum treasury.

Bitcoin (BTC) jumped 5.5% over the past 24 hours to $85,262.62. Ethereum (ETH) gained 5.9% to $2,728.49.

Broader market sentiment was also positive. Nasdaq futures rose 0.93%, while S&P 500 futures gained 0.65%.

BitMine Ethereum Holdings Approach 6 Million Tokens

BitMine said Monday that its Ethereum holdings reached 5,983,940 tokens as of Sept. 20.

At an Ethereum price of $2,688, the position represented about 4.9% of the cryptocurrency's 122.1 million-token supply.

The company reported $17.1 billion in total crypto, cash, marketable securities and other investments. That included 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings Inc. (ORBS).

BitMine said it has staked 5.07 million Ethereum tokens worth about $13.6 billion. That represents roughly 85% of its Ethereum holdings.

The company estimated annualized staking revenue of about $357 million. Its seven-day annualized staking yield was 2.62%.

Chairman Tom Lee said BitMine acquired another 27,562 Ethereum tokens during the past week. He also said he expects institutional crypto exposure to increase during the final quarter of 2026.

Technical Analysis

BMNR remains above its major moving averages despite signs that near-term momentum has cooled.

At Monday's premarket price, the stock was about 12% above its 20-day simple moving average of $24.48 and roughly 24% above its 200-day average of $22.08.

However, MACD remains below its signal line, while the histogram is negative. That suggests recent upside momentum has weakened.

Resistance sits near $30.50. Support is around $23, close to key moving-average levels.

The stock remains well below its 52-week high of $65.60, despite rebounding sharply from its June low of $12.80.

ETF Exposure

BMNR is held by several crypto-focused funds, including the Corgi Crypto Infrastructure ETF (BLCK), Bitwise Crypto Industry Innovators ETF (BITQ) and Global X Blockchain ETF (BKCH).

Price Action

BMNR Stock Price Activity: BitMine shares rose 5.19% to $27.34 in Monday's premarket trading, according to market data.