BitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) Short Interest Update
by Michael Walen · The Markets DailyBitMine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR – Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 22,134,381 shares, a drop of 18.0% from the February 12th total of 27,005,330 shares. Based on an average daily volume of 36,163,064 shares, the days-to-cover ratio is presently 0.6 days. Approximately 4.9% of the company’s shares are short sold. Approximately 4.9% of the company’s shares are short sold. Based on an average daily volume of 36,163,064 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Trading of BitMine Immersion Technologies
A number of hedge funds have recently added to or reduced their stakes in the business. CNB Bank purchased a new position in BitMine Immersion Technologies during the 3rd quarter valued at about $26,000. Strategic Advocates LLC purchased a new stake in shares of BitMine Immersion Technologies in the 3rd quarter worth approximately $27,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of BitMine Immersion Technologies in the 4th quarter worth approximately $27,000. Ankerstar Wealth LLC bought a new position in shares of BitMine Immersion Technologies during the fourth quarter valued at approximately $27,000. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of BitMine Immersion Technologies during the third quarter valued at approximately $30,000.
More BitMine Immersion Technologies News
Here are the key news stories impacting BitMine Immersion Technologies this week:
- Positive Sentiment: Company reports crypto and cash holdings of $11.5 billion, including 4.596 million ETH and 3,040,515 staked ETH (3.81% of ETH supply); this materially increases BitMine’s NAV and signals aggressive treasury accumulation. Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 4.596 Million Tokens, and Total Crypto and Total Cash Holdings of 11.5 Billion
- Positive Sentiment: BitMine completed an OTC purchase of 5,000 ETH from the Ethereum Foundation — a second EF-to-public-company transfer — boosting reserves and signaling institutional relationships that can facilitate further accumulation. Tom Lee’s BitMine buys 5,000 ETH from Ethereum Foundation in second OTC deal
- Positive Sentiment: OpenAI exposure and accelerated ETH purchases have driven short-term momentum and buy-side interest; one report ties a double-digit intraday move to these developments. Bitmine (BMNR) Climbs 13.9% on OpenAI Exposure, Accelerated ETH Purchase
- Positive Sentiment: Market commentary and headlines (e.g., coverage of a 60k ETH step-up in holdings) have amplified investor attention and trading volume, increasing liquidity for BMNR. Bitmine Soars 11% — Tom Lee’s Ethereum Bet Just Got Even Bigger
- Neutral Sentiment: BitMine highlights staking (over 3M ETH staked) and initiatives like MAVAN staking and “moonshot” equity positions (ORBS/Beast), which diversify the NAV but add complexity to valuation. Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 4.596 Million Tokens, and Total Crypto and Total Cash Holdings of 11.5 Billion
- Negative Sentiment: Operational/financial fundamentals remain weak: earlier quarterly results showed negative EPS and very large net margin losses, meaning the company depends on crypto NAV appreciation and treasury management to justify the equity valuation rather than operating profits. (Company Q4 results and filings)
- Negative Sentiment: Concentration risk — the push toward owning a multi-percent share of ETH supply raises execution, market-impact and regulatory scrutiny risk; if ETH price falls or selling is forced, BMNR NAV and share price could move sharply lower.
BitMine Immersion Technologies Price Performance
Shares of NYSEAMERICAN:BMNR opened at $23.23 on Wednesday. The business’s 50 day moving average is $23.79 and its 200 day moving average is $35.74. BitMine Immersion Technologies has a 52-week low of $3.20 and a 52-week high of $161.00.
BitMine Immersion Technologies (NYSEAMERICAN:BMNR – Get Free Report) last issued its earnings results on Tuesday, January 13th. The company reported ($0.05) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 67,546.19% and a positive return on equity of 7.89%. The firm had revenue of $2.29 million for the quarter.
Analyst Ratings Changes
A number of research analysts have recently commented on BMNR shares. Cantor Fitzgerald initiated coverage on shares of BitMine Immersion Technologies in a report on Monday, January 5th. They issued an “overweight” rating and a $39.00 price target on the stock. B. Riley Financial decreased their price objective on shares of BitMine Immersion Technologies from $47.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $34.50.
Get Our Latest Research Report on BitMine Immersion Technologies
BitMine Immersion Technologies Company Profile
BitMine Immersion Technologies, Inc (NYSE American: BMNR) is an engineering and technology company specializing in immersion cooling solutions for digital asset mining and high-performance computing (HPC) applications. The company develops proprietary direct-to-chip systems that submerge servers in non-conductive dielectric fluids to efficiently remove heat, enabling clients to achieve higher processing density and improved energy efficiency.
BitMine offers turnkey services spanning system design, equipment supply, installation and ongoing maintenance.