BitMine Immersion Technologies (NYSE:BMNR) Upgraded at Wall Street Zen

Posted by Brian Himes on Oct 13th, 2026

Wall Street Zen upgraded shares of BitMine Immersion Technologies (NYSE:BMNR – Free Report) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently commented on BMNR. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of BitMine Immersion Technologies in a research report on Tuesday, October 6th. B. Riley Financial boosted their price target on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BitMine Immersion Technologies currently has an average rating of “Hold” and an average price target of $48.80.

Get Our Latest Stock Analysis on BitMine Immersion Technologies

BitMine Immersion Technologies Price Performance

NYSE:BMNR opened at $23.86 on Friday. The stock has a market cap of $14.39 billion, a PE ratio of 477.18 and a beta of 1.52. BitMine Immersion Technologies has a fifty-two week low of $12.80 and a fifty-two week high of $56.85. The stock’s 50-day moving average is $23.61 and its two-hundred day moving average is $20.22.

BitMine Immersion Technologies (NYSE:BMNR – Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share (EPS) for the quarter. The company had revenue of $46.53 million during the quarter. BitMine Immersion Technologies had a positive return on equity of 3.35% and a negative net margin of 14,306.56%. On average, equities research analysts anticipate that BitMine Immersion Technologies will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On BitMine Immersion Technologies

Several large investors have recently made changes to their positions in the company. Quintet Private Bank Europe S.A. boosted its position in BitMine Immersion Technologies by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 1,150 shares of the company’s stock worth $30,000 after purchasing an additional 575 shares during the period. Banque Cantonale Vaudoise grew its holdings in BitMine Immersion Technologies by 72.3% during the first quarter. Banque Cantonale Vaudoise now owns 1,859 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares during the last quarter. Legacy Wealth Managment LLC ID grew its holdings in BitMine Immersion Technologies by 40.8% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,966 shares of the company’s stock valued at $39,000 after purchasing an additional 570 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its position in shares of BitMine Immersion Technologies by 1,000.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,200 shares of the company’s stock valued at $60,000 after purchasing an additional 2,000 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of BitMine Immersion Technologies in the first quarter valued at approximately $58,000.

Key BitMine Immersion Technologies News

Here are the key news stories impacting BitMine Immersion Technologies this week:

Positive Sentiment: Ethereum holdings reached a major milestone. BitMine reported 6.03 million ETH and total cryptocurrency, cash and marketable securities holdings of approximately $16.2 billion. The company is now close to its goal of controlling 5% of Ethereum’s total supply, strengthening its position as a publicly traded ETH treasury vehicle. BitMine announces ETH holdings and $16.2 billion in total holdings
Positive Sentiment: The company added another 12,532 ETH. The purchase leaves BitMine roughly 99% of the way toward its 5% Ethereum-supply objective, providing continued exposure to potential ETH price appreciation and reinforcing the company’s crypto-focused investment strategy. BitMine adds 12,532 ETH
Positive Sentiment: BitMine completed a $350 million stock buyback. The repurchase, described as one of the largest in the crypto sector by chairman Tom Lee, could support per-share value by reducing shares outstanding. BitMine completes $350 million stock buyback
Neutral Sentiment: Crypto-market optimism provides a potential tailwind. Tom Lee has forecast a powerful future crypto bull cycle, but that outlook is external to BitMine and depends heavily on Ethereum and broader digital-asset prices. BitMine adds ETH as Tom Lee predicts a crypto bull cycle
Negative Sentiment: The near-completion of the ETH-buying target may reduce a key catalyst. With BitMine approaching its stated purchase limit, investors may be looking for the next source of demand or growth. That uncertainty, along with profit-taking after the holdings announcement, likely helps explain why BMNR has traded lower despite the larger crypto treasury. BitMine nears Ethereum buying cap

About BitMine Immersion Technologies

(Get Free Report)

BitMine Immersion Technologies, Inc is a digital asset and blockchain technology company focused on cryptocurrency mining and the management of digital assets. Its operations have included the use of immersion-cooling technology, which is designed to improve the efficiency and operating environment of specialized computing equipment used in cryptocurrency mining.

The company has also shifted its strategic focus toward building and managing a treasury of digital assets, particularly Ethereum, while continuing to evaluate opportunities in cryptocurrency mining, blockchain infrastructure and related technologies.