Bitmine (BMNR) Rises After Ethereum Purchase, Ahead of Clarity Act Vote
Bitmine Immersion Technologies Inc. (NYSE: BMNR) surged 13.49% to $17.92 per share after acquiring an additional 9,946 ETH tokens last week, bringing its total holdings to 5.78 million units valued at $11.27 million. The company expressed optimism that Ethereum could reach between $2,000 and $2,500 in the near term based on analysis from advisor Tom DeMark. The stock's rise also coincides with anticipation of the Senate passing the Clarity Act by August 7, a proposed U.S. federal law aimed at establishing a regulatory framework for cryptocurrencies under SEC and CFTC oversight. The legislation is expected to enhance crypto adoption in the United States. Bitmine continued its $4 billion share repurchase program, buying back 6.1 million shares last week. Institutional interest has also increased, with hedge fund holdings rising from 28 funds in Q3 2025 to 33 as of early 2026, and combined positions reaching $700 million.
Tickers: $BMNR