BitMine stock shot up pretty big on Monday, jumping about 30% during the day. Investors got excited after it came out that BitMine now holds over $4.9 billion in Ethereum, the biggest public stash of ETH around.
This shows the company is moving away from just mining Bitcoin and focusing more on managing digital assets.
The stock climbed steadily before and during regular trading, hitting a high near $67.83 on the NYSE American at press time.
The stock got a big lift after BitMine shared back in July that it had $500 million in Ethereum, then that amount doubled after they raised another $250 million privately.
This move puts BitMine up there with the biggest public companies holding Ethereum, signaling they’re focusing more on the potential of Ethereum and staking, rather than just making money from mining.
Why investors are bullish on BitMine stock?
BitMine is changing gears fast. While still running mining operations in places like Trinidad and Texas, they’re also branching out into advisory work and managing crypto assets and treasury strategies.
This mix helps them cut down on the usual risks of mining by putting more focus on building up their asset holdings and playing the capital markets, especially with Ethereum.
Their plan is to keep growing their ETH stash per share through reinvesting cash flow, earning staking rewards, and raising new funds, aiming for steady growth in their digital assets.
The jump in BitMine’s stock also rode the wave of the crypto market rally, with Ethereum pushing past $4,000, levels not seen since late 2021.
This strong interest from both big institutions and everyday investors in companies holding ETH helped lift BitMine’s shares.
Interestingly, South Korean retail investors have been especially active, pumping around $259 million into BitMine since early July 2025, making it one of their top foreign picks.
This reflects just how hot crypto investing still is in South Korea right now.
What analysts say?
Analysts are cautiously positive about BitMine’s future, pointing to its shift toward building a big Ethereum treasury as a smart move that sets it apart.
Thomas Lee, who recently stepped in as BitMine’s Chairman, talks up the long-term value of focusing on ETH over Bitcoin, highlighting Ethereum’s efficiency and broad financial network.
This shift puts BitMine in a strong spot as interest grows in staking and lighter crypto business models.
While some market watchers flag the stock’s ups and downs, they also recognize the solid foundation behind the recent gains.
With a multi-billion dollar Ethereum stash and a clear plan to grow its crypto assets and advisory services, BitMine is shaping up to be more than just a mining company, it’s becoming a hybrid digital asset manager.
Plus, the ongoing rise in Ethereum prices and strong institutional interest in ETH products add extra fuel to BitMine’s growth story.
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