Why Bitmine Immersion Stock Collapsed 51% In The First Half of 2026
The Ethereum treasury business is falling along with the cryptocurrency.
Overview
Shares of Bitmine Immersion Technologies (NYSE: BMNR) sank 51% in the first half of 2026, according to data from S&P Global Market Intelligence. The company launched its new strategy of becoming an Ethereum treasury business last year, and it has already sent shares down 89% from all-time highs due to a collapsing Ethereum price.
Here's why Btimine Immersion stock is sinking so fast, and whether now is a good time to buy the dip on this potential cryptocurrency treasury disruptor.
Details
Like Strategy (formerly MicroStrategy), Bitmine Immersion Technologies aims to be a large player in the cryptocurrency acquisition space. However, instead of Bitcoin, the company is aiming to buy up a large supply of the second-largest cryptocurrency by market cap: Ethereum. As of its latest update, the company had acquired 4.8% of the total Ethereum in circulation, worth $8.7 billion at this writing.
Source
Originally published at www.fool.com.