BitMine Immersion Surges 4.58% on $2.68B Volume, Ranks 23rd in Market Activity as Ethereum Pivot Propels It to 3rd Largest Corporate Treasury

On August 20, 2025, BitMine Immersion (BMNR) surged 4.58% with a trading volume of $2.68 billion, ranking 23rd in market activity. The stock's performance follows strategic shifts by its chairman Tom Lee, who transitioned the firm from Bitcoin mining to Ethereum accumulation. BitMine now holds 1.174 million ETH valued at $5.26 billion, positioning it as the third-largest corporate Ethereum treasury globally.

Lee’s aggressive investment strategy includes acquiring 833,137 ETH at $3,492 apiece and doubling down during price dips. This pivot has transformed the company from a traditional miner into a major crypto player, with institutional backing from Peter Thiel. The move aligns with Ethereum’s growing institutional adoption, evidenced by $2.85 billion in Ethereum ETF inflows over five days compared to Bitcoin’s $548 million.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to now delivered moderate returns. The 1-day return was 0.98%, with a total return of 31.52% over 365 days. This indicates the strategy captured some short-term momentum but also reflected market volatility and potential timing risks.