BMNR: −8% Drop as ETH-Treasury Giant Pulls Back
$BitMine Immersion Technologies Inc.(BMNR)$
$42.86 (−8.12%): ETH-treasury darling cools off, still 73% below $161 spike with $35–$50 volatility corridor
Market Recap (as of Oct 31, 2025):
BitMine Immersion Technologies closed at $42.86, down 8.12%, on ~31.5M shares versus ~50.9M average, leaving the stock up ~490% YTD but still about 73% below its July blow-off high near $161.
The drop comes despite fresh headlines that BitMine now holds 3.4M ETH (~2.8% of total supply) plus BTC and cash for a $13.7B crypto+cash treasury, positioning it as the world’s largest corporate Ethereum holder.
Recent commentary from B. Riley (Buy, $90 PT) and other bullish research frames BMNR as a leveraged bet on an ETH “supercycle,” while critics warn that shares trade like a speculative NAV proxy with extreme sensitivity to crypto drawdowns and short-seller pressure.
With TTM EPS at −3.03 and no meaningful P/E, BMNR screens far riskier than the S&P 500’s ~30x trailing multiple; valuation is almost entirely NAV- and sentiment-driven rather than earnings-based.
Technical Indicators Analysis:
Technically, BMNR is in a post-parabolic downtrend: price has slipped well below the 20-day EMA (~$50.4) and 50-day EMA (~$50.0), and trend-following tools (EMAs and parabolic SAR on standard settings) collectively point lower.
MACD remains below zero with a flat, slightly negative histogram, while RSI near 39 signals a weak, mildly oversold tape rather than a confirmed reversal.
For the coming week, base case is a high-beta trading range roughly between $38 and $50: first support sits near $40–38, then $35–32 if selling accelerates; upside resistance comes at the $48–50 band (converging EMAs) and then $55–60 on any sharp ETH-led squeeze.
The Street’s one-year target around $75 implies substantial upside if crypto and sentiment re-inflate, but from a pure technical/valuation mix, my near-term focus would be on retests of $38–35 unless BMNR can reclaim and hold above $50 on strong volume.(sg.finance.yahoo.com)
Risk & Disclaimer: BMNR is a highly volatile crypto-treasury stock whose price can swing far more than Ethereum itself; sharp gaps, regulatory headlines, and NAV dislocations are common.
This commentary is for informational and technical-reference purposes only and does not constitute investment advice or a recommendation to buy or sell any security.
Please conduct your own research and manage position sizing and risk according to your personal circumstances.
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