TLDR
- Bitmine Immersion Technologies (BMNR) stock opened at $21.60 on Tuesday.
- The company bought 12,535 more ETH, lifting its total to 6,041,481 ETH.
- Ethereum trades near $2,422, down about 5% on the week and below its 20-day average.
- Bitmine has 5.07 million ETH staked and reports $15.1 billion in total holdings.
- Analysts rate BMNR a Hold with an average price target of $48.80.
Bitmine Immersion Technologies (BMNR) stock opened at $21.60 on Tuesday. Its 50-day average is $24.02 and its 200-day average is $20.32.
Bitmine Immersion Technologies, Inc., BMNR
The company bought another 12,535 ETH last week. That lifts its total to 6,041,481 ETH as of October 18.
Chairman Tom Lee says Bitmine has bought ETH every week since June 30, 2025. The last update, on October 12, showed 6,028,946 ETH.
BitMine Adds 12,535 ETH, Holdings Rise to 6.04M ETH
BitMine said it acquired 12,535 ETH over the past week, bringing total holdings to 6,041,481 ETH, or about 4.9% of Ethereum’s 122.1 million supply. The company has 5.07 million ETH staked, while its total crypto, cash,… pic.twitter.com/kQE0mwWxto
— Wu Blockchain (@WuBlockchain) October 19, 2026
The holdings equal about 4.9% of the 122.1 million ETH supply. Bitmine says it is about 99% of the way to its 5% goal.
Reaching 5% would take 6,105,000 ETH on that supply figure. That leaves the company 63,519 tokens short.
Ethereum Price Chart: Support and Resistance
Ethereum traded near $2,422, up 0.5% on the day and down 4.8% over seven days. It sits below its 20-day moving average of $2,544.70, so the short-term trend still points down.
Support sits at $2,300 to $2,305, close to the lower Bollinger Band at $2,305.40. Resistance runs from $2,500 to $2,545, and the upper band is at $2,784. RSI is 39.65, below its average of 41.32 and the neutral 50 line, which points to weak buying. No MACD reading was provided with the chart.
What to watch: a close below $2,300 could open the door to $2,200 and then $2,000, while a move above $2,545 would put $2,600 in view.
Staking and Portfolio Details
Bitmine has 5,067,309 ETH staked, about 83.9% of its holdings. That matches the September figure, so last week’s purchase did not add to it.
The company estimates its staked ETH could earn about $309 million a year at a 2.58% yield. Staking everything through its MAVAN network could bring in $369 million.
Those numbers are projections, not earned revenue. Results depend on validator performance, fees and costs.
Total holdings come to $15.1 billion, using a reference price of $2,365 per ETH. The ETH alone is worth about $14.29 billion of that.
The rest includes 215 Bitcoin and $582 million in cash and securities. It also holds $180 million in Beast Industries and $74 million in Eightco (ORBS).
Lee linked the crypto drop to weak tech stocks. He pointed to AI financing worries, geopolitics and bond yields, and named South Korea and Taiwan as weak spots.
Institutions have also been buying. Assenagon Asset Management took a new stake worth about $13.45 million, or 0.08% of the company.
Analysts rate the stock a Hold with an average target of $48.80. The 52-week range is $12.80 to $55.19, and the market cap is $13.03 billion.
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