BitMine Stock Defies The Market — Here's What Traders Are Watching

BitMine Immersion Technologies, Inc. (NASDAQ:BMNR) shares are surging on Wednesday, gaining traction amid a mixed market backdrop. The move comes as the S&P 500 is down 0.53% and the Nasdaq is off by 0.95%, suggesting that BMNR is bucking broader market trends.

BitMine shares often move alongside Ethereum (CRYPTO: ETH), which is trading higher on Wednesday, up 6.93% at $3,357.56 at the time of writing.

Draft Legislation Aims To Clarify U.S. Crypto Regulation

In broader sector news, U.S. senators unveiled draft legislation that would establish a regulatory framework for cryptocurrency, according to Reuters. The proposal would define when crypto tokens are considered securities or commodities and clarify regulatory jurisdiction between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.

The bill would grant the CFTC authority to oversee spot crypto markets and includes provisions addressing stablecoins, including restrictions on paying interest solely for holding a stablecoin while allowing rewards tied to certain activities. The Senate Banking Committee is scheduled to debate the legislation and consider amendments, while the Senate Agriculture Committee is working on a separate version.

BitMine Reports Expanded Ethereum Holdings And Crypto Treasury

BitMine announced this week that its total crypto, cash and “moonshots” holdings reached $14 billion.

As of Jan. 11, Bitmine reported holdings of approximately 4.17 million Ethereum tokens, representing about 3.45% of the total ETH supply, along with 193 Bitcoin and $988 million in cash. The company said it remains the largest “fresh money” buyer of Ethereum globally.

Bitmine also disclosed that 1,256,083 ETH are currently staked, with its Made in America Validator Network staking solution expected to launch in the first quarter of 2026. The company said it acquired more than 24,000 ETH in the past week while increasing its cash position by $73 million.

A Closer Look at BitMine’s Technical Picture

BitMine is currently trading 10.9% above its 20-day simple moving average (SMA) but is 21% below its 100-day SMA, indicating some short-term strength while still facing longer-term challenges. Over the past 12 months, shares have skyrocketed by 445.03%, and they are positioned closer to their 52-week highs than lows, suggesting a strong upward trend.

The RSI is at 47.62, which is considered neutral territory, indicating that the stock is neither overbought nor oversold. Meanwhile, the MACD is above its signal line, suggesting bullish momentum in the near term.

The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating that while there is some strength, traders should remain cautious.

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for BitMine Immersion Technologies, Inc. (BMNR), highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Bullish (Score: 98.44/100) — Stock is outperforming the broader market.
• Value: Risk (Score: 2.64/100) — Trading at a steep premium relative to peers.

The Verdict: BitMine’s Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the Momentum (98) confirms the strong trend, the extremely low Value (2.64) score warns that the stock is priced for perfection — investors should ride the trend but use tight stop-losses.

BMNR Price Action: At the time of writing, BitMine shares are trading 7.72% higher at $33.60, according to data from Benzinga Pro.

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