BitMine Immersion Technologies Inc (NASDAQ:BMNR) has been on a meteoric rise this year—up more than 600% since it began trading in June 2025—driven by its pivot from Bitcoin (CRYPTO: BTC) mining to an Ethereum (CRYPTO: ETH) -focused digital-asset treasury.
The company now claims the crown as the world’s largest corporate holder of ETH, attracting marquee investors like Cathie Wood‘s Ark Invest, Peter Thiel‘s Founders Fund, Tom Lee, and Bill Miller III. For supporters of crypto supercycles, BitMine stock looks like a must-watch play.
- Track BMNR stock here.
Kerrisdale Shorts Cry Foul
But not everyone is convinced. Kerrisdale Capital, led by Sahm Adrangi, recently published a short report on BitMine, calling it “DAT …