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BitMine Immersion Technologies shares rose about 9% after the company acquired 50,928 Ethereum, lifting its total holdings to 4.47 million ETH, valued at $8.8 billion. Chairman Tom Lee described the recent pullback in the market as “attractive,” while reiterating the company’s plan to continue accumulating ETH and optimizing yield on its holdings.
With the latest acquisition, BitMine now holds 3.71% of the total ETH supply. The purchase places the company more than 74% of the way toward its “Alchemy of 5%” target, a milestone it said it has reached in just eight months.
Lee linked the strategy to rising geopolitical uncertainty and said BitMine will “steadily acquire ETH and optimize the yield on our ETH holdings.” He added that the pullback is attractive because, in his view, the price of ETH does not reflect ETH’s utility and its role in the “future of finance.”
BitMine reported 3.04 million staked ETH, worth $6.0 billion at $1,976 per token. Staked ETH represents 68% of the company’s total ETH holdings.
At full scale, when fully staked through MAVAN, BitMine said annualized staking rewards would reach $253 million, based on a 2.86% seven-day yield.
Current annualized staking revenues were cited at $172 million. BitMine’s staking operations generated a seven-day yield of 2.86%, slightly above the Composite Ethereum Staking Rate of 2.83%.
BitMine said its MAVAN staking solution remains on track to launch in Q1. Lee described MAVAN as a “best-in-class” solution focused on secure staking infrastructure. The company said it is currently working with three staking providers as it moves toward unveiling MAVAN.
BMNR was up about 9%, pressing against a short-term technical pivot after building a tight base above recent lows.
The Supertrend indicator at $18.84 flipped green beneath price, marking the first sustained bullish shift after a prolonged downtrend. Price is trading nearly 9% above that level, creating separation from the $17 capitulation zone.
BMNR is reclaiming the 20 EMA at $20.20, with the day’s high reaching $20.81. The stock faces immediate resistance at $20.80–$21, followed by the 50 EMA at $22.14. A sustained move through that area would open the path toward the 100 EMA at $25.78.
The 200 EMA remains higher at $30.26, which the article described as defining the broader bearish structure. On the downside, support is cited at the Supertrend level of $18.84, reinforced by consolidation between $18 and $19. A break back below that range would weaken the breakout attempt and shift attention to deeper support near $12.13.
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