BitMine Immersion Surges 5.87% with $8.02B in Volume, Ranks 9th as $20B Stock Sale Expands Ethereum Treasury

On August 12, 2025, BitMine Immersion (BMNR) surged 5.87% with a trading volume of $8.02 billion, ranking ninth in market activity. The move followed the company’s announcement of a $20 billion stock issuance plan to expand its Ethereum treasury, a strategy that has driven valuation growth since June. The additional funding, combined with prior initiatives, brings total potential share sales to $24.5 billion. While the plan involves significant equity dilution, investors appear supportive of the aggressive crypto acquisition strategy, which aims to increase Ethereum holdings to 5% of the circulating supply.

The strategic shift gained momentum after Fundstrat’s Tom Lee was appointed chairman in late June, enhancing institutional credibility and accelerating capital inflows. BitMine’s approach mirrors MicroStrategy’s Bitcoin strategy, positioning it as a key player in institutional crypto adoption. Recent filings with the SEC confirmed the expanded stock sale plans, reinforcing market confidence in the company’s long-term vision for Ethereum. The move aligns with broader crypto market trends, as regulatory developments like the GENIUS Act for stablecoin oversight have bolstered demand for Ethereum-based assets.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day yielded a total profit of $2,340 from 2022 to the present. However, the approach experienced a maximum drawdown of -15.3% on October 27, 2022, highlighting the inherent risks despite potential gains.