BitMine Stock Gets Resuscitated as Tom Lee Says ‘Stocks to be Up in March’
BitMine Immersion Technologies (BMNR) stock got resuscitated this week. The stock, trading under the ticker BMNR, jumped 7.68% over the last five trading days. The big spark for this rally came from a bold call by the company’s Chairman Tom Lee. In a recent update, Lee made it clear that he isn’t worried about the recent market shakes. He stated, “We understand war headlines make investors nervous, but we expect stocks to be up in March.” He believes the market is being led by the “Magnificent 7” tech giants, software, and crypto assets like Bitcoin (BTC-USD) and Ethereum (ETH-USD). Since BitMine’s value is tied directly to its crypto holdings, Lee’s bullish outlook has acted like a shot of adrenaline for the stock.
BitMine Does a Deep Dive into Ethereum
While other companies are playing it safe, BitMine is doubling down. The firm just confirmed that it now holds over 4.53 million ETH, which is roughly 3.76% of the entire world supply. In just the past week, they scooped up another 60,976 tokens. Tom Lee noted that the company has staked about 3 million of those tokens. This move is already bringing in $174 million in yearly revenue, proving that their plan to become the world’s biggest Ethereum treasury is working.
The Market Sees a Major Bottoming Signal
Many investors are betting that the worst is over for the “mini crypto winter.” Lee pointed out that the current price patterns look a lot like the market bottoms seen in 1987 and 2011. He expects Ethereum to find a solid floor between March 8th and March 14th. If he’s right, BitMine’s $10.3 billion portfolio of crypto and cash could be worth a lot more very soon. For now, the stock remains a favorite for big names like Cathie Wood and Galaxy Digital, who are betting on the same March turnaround.
Is BitMine Stock a Good Buy?
Turning to TipRanks, BMNR stock has a Moderate Buy consensus rating based on two Buy ratings from analysts assigned in the last three months. The average 12-month BMNR price target sits at $34.50, implying an upside potential of 56.43%.
Copyright © 2026, TipRanks. All rights reserved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Peter Brandt Favors Monero Over XRP Despite Bullish Price Targets
What does Meta Muse mean for GPU and CPU?
Unlike chatbots with a high idle rate, the “always online” nature of intelligent agents like Meta Muse leads to a dramatic increase in computing power consumption. Citi predicts that this trend will shift the CPU-GPU ratio from 1:8 during the training phase to 1:1, driving the CPU market to reach $300 billion by 2030. Meanwhile, just 100 million daily active Muse users could generate up to $19 billion in GPU revenue for Nvidia.
Amazon (AMZN.US) begins a new round of small-scale layoffs, with the retail division hit hardest
Amazon confirmed on Wednesday that the company has laid off a small number of employees, mainly involving its Stores division, which is responsible for its main e-commerce website.
Crypto prices
More
