Ethereum News Today: BitMine stock jumps 25% as Ethereum hits $4,000 after seven-month slump

BitMine stock (NYSE American: BMNR) surged approximately 25% on August 8, 2025, as Ethereum (ETH) climbed above $4,000 for the first time in over seven months. The stock’s sharp increase was closely tied to the rising price of Ethereum, which BitMine holds in a massive public portfolio of 833,000 ETH—valued at nearly $3 billion—making it the largest known public holder of the digital asset [1]. The company's stock performance is largely influenced by the value of its Ethereum holdings, creating a direct link between ETH price movements and BitMine’s equity [1].

Ethereum’s upward trend has been fueled by several factors, including whale activity and bullish technical indicators such as a pennant pattern and a golden cross in moving averages. The cryptocurrency also benefited from increasing clarity around stablecoin regulations, which has attracted more institutional interest [1]. Notably, institutional investors such as Cathie Wood of ARK Invest and Bill Miller III have expressed support for BitMine’s aggressive Ethereum acquisition strategy, reinforcing the stock’s momentum [1].

BitMine’s rapid accumulation of Ethereum—growing from zero to over 833,000 ETH in just over a month—was made possible by a recent $250 million private fundraising round. This aggressive buying spree has drawn attention from both retail and institutional investors, with the stock becoming a popular topic on platforms like Stocktwits [1]. The company, however, remains unprofitable, with a net loss of approximately $6.5 million in the last fiscal year, despite generating $5.45 million in revenue [1].

The surge in Ethereum has positioned BitMine as one of the most volatile and closely watched crypto-related stocks in the market. Analysts and traders are now watching for signs that the rally can be sustained, with many expecting Ethereum to potentially surpass $6,000 later in the year if current trends continue. However, BitMine’s financial position remains precarious, with profitability still out of reach and its stock’s value heavily dependent on the performance of its Ethereum portfolio [1].

The company’s upcoming staking and fundraising plans are expected to play a key role in determining the future trajectory of its stock. If Ethereum continues its upward momentum and BitMine successfully executes its growth strategy, the stock could see further gains. Conversely, any pullback in ETH prices or operational setbacks could weigh heavily on investor sentiment [1].

Source: [1] BitMine stock soars 25% as Ethereum tops $4000, but ... (https://invezz.com/news/2025/08/08/bitmine-stock-soars-25-as-ethereum-tops-4000-but-caution-remains/)