BMNR Stock Rebounds as BlackRock Boosts BitMine Stake Despite Crypto Slump

BMNR stock showed signs of recovery this week even as the broader crypto market remained under pressure. Shares of BitMine, an Ethereum treasury firm, gained nearly 2% during the latest trading session after BlackRock revealed a significant increase in its ownership stake. The disclosure, reported by Yahoo Finance, highlighted a 165.6% jump in BlackRock’s position in BitMine, signaling renewed institutional confidence in the company.

The move comes at a time when BitMine is facing an unrealized loss of roughly $8 billion. Despite this, the company has continued aggressively expanding its Ethereum holdings. Earlier this week, BitMine purchased approximately $84 million worth of ETH, reinforcing its long-term commitment to digital assets. The firm also continues to stake its Ethereum, aiming to generate yield while holding through market volatility.

Tom Lee has publicly defended the company’s strategy, urging investors to focus less on short-term price fluctuations and more on long-term entry opportunities. According to Lee, market participants should view the current downturn as a chance to position themselves strategically rather than panic sell. He attributed the recent crypto market weakness partly to sharp volatility in gold prices, noting that gold’s market capitalization shifted by trillions of dollars in a single day in late January, which impacted broader financial markets.

Investor sentiment surrounding BMNR stock has also been supported by BitMine’s high-profile partnership with MrBeast. Lee believes each generation gravitates toward its own financial hub, suggesting that MrBeast could become a financial gateway for Gen Z and Gen Alpha. As a massive intergenerational wealth transfer approaches, BitMine aims to position itself as a digital asset platform of choice for younger investors who may increasingly rely on cryptocurrencies for everyday transactions.

Although BMNR stock remains about 10% down this month, BlackRock’s increased exposure and BitMine’s continued Ethereum accumulation have renewed optimism among investors watching the stock’s potential upside.