BitMine (BMNR) Stock Jumps 5.5% on New ETH Purchase as Tom Lee Bets Big on Year-End Institutional Crypto Rush

BitMine Immersion Technologies’ stock (BMNR) jumped 5.5% to $27.43 on Monday as rising crypto prices gave corporate treasury stocks a strong push. The move follows a 6% rally in Ethereum (ETH-USD) over 24 hours, bringing the token near $2,734. BMNR stock’s rise also builds on a strong 5-day run, with BMNR shares up over 8.5% over the past week.

The latest gains come as BitMine continues its weekly ETH purchases. The company has bought Ether almost every single week since launching its treasury plan in June 2025. While the stock market currently values BitMine below the total worth of its crypto and cash assets, investors are stepping back in as crypto momentum builds heading into the fall.

BitMine Adds 27,562 Ether as Nears its 5% Supply Goal

BitMine confirmed it bought another 27,562 Ether over the past week

. The new addition brings its total holding to 5.98 million tokens, making it the largest corporate Ether holder in the world . The company holds $17.1 billion in total assets when counting its cash and private stakes .

Despite the steady buying, BitMine is still chasing its goal of owning 5% of all Ether in existence. Because new Ether tokens are created constantly, the total number needed to hit 5% keeps rising. BitMine sits about 98% of the way to its goal, remaining roughly 121,000 tokens short of the moving target.

BitMine Chairman Tom Lee believes big financial firms will soon jump back into crypto. He noted that many large institutions stayed on the sidelines earlier in 2026 due to the big run in tech and AI stocks. However, with Ether beating the S&P 500 by over 65 percentage points since June, Lee expects institutions to boost their crypto positions in the final three months of the year.

Is BitMine a Good Stock to Buy Now?

According to TipRanks data, BitMine Immersion Technologies (BMNR) has a Moderate Buy consensus rating from two analysts. Of them, both analysts have issued Buy ratings over the past three months. BMNR stock has an average 12-month price target of $46.80, implying a 69.4% upside potential from current price levels. (See BMNR stock forecast)