--- title: "Why Is Bitmine Immersion Stock Surging Friday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/296620677.md" description: "Bitmine Immersion Technologies (BMNR) stock surged, driven by a rally in Bitcoin and Ethereum. The company holds 4.8% of the total Ethereum supply, nearing its 5% acquisition goal. Management reported total holdings of $11.4 billion. Technically, BMNR shows strong near-term momentum but faces resistance near the 200-day SMA and overbought RSI levels." datetime: "2026-08-21T12:36:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296620677.md) - [en](https://longbridge.com/en/news/296620677.md) - [zh-HK](https://longbridge.com/zh-HK/news/296620677.md) generator: "portal-rs" --- # Why Is Bitmine Immersion Stock Surging Friday? **Bitmine Immersion Technologies Inc.** (NYSE:BMNR) stock surged Friday, extending its gains from Thursday. Nasdaq futures rose 0.67%, while S&P 500 futures gained 0.43%. The move came as **Bitcoin** (CRYPTO: BTC) and **Ethereum** (CRYPTO: ETH) rallied, boosting the value of Bitmine’s digital asset holdings. On Friday, Bitcoin rose 7.08% over 24 hours to $76,787.17, while Ethereum increased 4.14% to $2,371.83, according to CoinMarketCap. ## Management Update Details Holdings On Monday, management released an update detailing the company’s digital asset reserves. Executive Chairman **Tom Lee** stated, “Bitmine crypto + total cash & marketable securities + ‘moonshots’ holdings total $11.4 billion, including 5.82 million ETH tokens…” Addressing the company’s “Alchemy of 5%” initiative to acquire 5% of global Ethereum supply, Lee noted: “Bitmine owns 4.8% of the total ETH coin supply of 120.7 million. Bitmine is 96% of the way to the ‘Alchemy of 5%’ in just 14 months.” With over 5 million ETH actively staked to generate recurring yield, Bitmine offers equity exposure to Ethereum’s price movement. ## Critical Levels To Watch for BMNR Stock BMNR is trading well above its shorter-term trend gauges, sitting 22.6% above the 20-day SMA ($18.18) and 35% above the 50-day SMA ($16.51), which signals a strong near-term uptrend. At the same time, it’s still trading 3.5% below the 200-day SMA ($23.09), a common “line in the sand” that can act like overhead supply on rallies. Momentum is getting stretched: RSI is at 70.08, which is in overbought territory and often flags that upside can slow or pull back even if the broader trend is improving. The longer-term backdrop is still mixed, because the death cross from January (50-day SMA below the 200-day SMA) remains in place even after the recent bounce. That’s consistent with the stock’s weak 12-month trend (down 54.81%) and helps explain why rallies can run into tougher resistance as they approach the long-term averages. - **Key Resistance**: $24 — a nearby round-number area just above the 200-day SMA zone where rallies can stall - **Key Support**: $20 — a round-number level that sits below current price and can act as a first “dip-buying” area **BMNR Stock Price Activity:** BitMine Immersion shares were up 3.57% at $22.34 during premarket trading on Friday, according to Benzinga Pro data. *Photo via Shutterstock* **Read Also: Walmart’s AI Bet Is Working: Sparky Users Spend 40% More as CEO Says AI Will Reshape ‘Nearly Every Part of Our Business’** ### Related Stocks - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [QETH.US](https://longbridge.com/en/quote/QETH.US.md) - [BMNU.US](https://longbridge.com/en/quote/BMNU.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [BMNG.US](https://longbridge.com/en/quote/BMNG.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [ETH.US](https://longbridge.com/en/quote/ETH.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BMNZ.US](https://longbridge.com/en/quote/BMNZ.US.md) - [YBMN.US](https://longbridge.com/en/quote/YBMN.US.md) - [ETHT.US](https://longbridge.com/en/quote/ETHT.US.md) - [ETHU.US](https://longbridge.com/en/quote/ETHU.US.md) - [ETU.US](https://longbridge.com/en/quote/ETU.US.md) - [ETHD.US](https://longbridge.com/en/quote/ETHD.US.md) - [ETQ.US](https://longbridge.com/en/quote/ETQ.US.md) - [SETH.US](https://longbridge.com/en/quote/SETH.US.md) - [YETH.US](https://longbridge.com/en/quote/YETH.US.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [WMT.US](https://longbridge.com/en/quote/WMT.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) ## Related News & Research - [EX DeFi Announces AI-Driven Digital Asset Infrastructure Platform Supporting BTC, ETH and XRP](https://longbridge.com/en/news/296110726.md) - [Aligned Launches $ALIGN, the Native Token of Its Full Ethereum Stack](https://longbridge.com/en/news/296619468.md) - [Metis to Hold AI Bootcamp Livestream on August 19th](https://longbridge.com/en/news/296136416.md) - [SEC Opens Comment Period On Cboe 3x Bitcoin And Ethereum ETF Proposal](https://longbridge.com/en/news/296643740.md) - [Fundstrat Sees 30% Swing In Bitcoin’s Price](https://longbridge.com/en/news/296239209.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**