Ethereum

Beast

Tom Lee

<p>The BMNR stock price retreated by over 1.18% on Monday as the recent crypto market crash continued and as BitMine continued its Ethereum accumulation.</p>
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  <span>Summary</span>
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   <li>The BMNR stock price retreated on Monday as the crypto market crash continued.</li>
   <li>Ethereum price has formed several bearish chart patterns pointing to more downside&nbsp;&nbsp;</li>
   <li>Technical analysis suggests that the stock has more downside to go in the near term.</li>
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<p>BitMine stock was trading at $28.35, down by over 82% from its 2025 high. Its crash has wiped out billions of dollars in value as the market capitalization dropped from over $18 billion to the current $12.8 billion.</p>
<p>BitMine, the company Tom Lee runs, announced that it continued accumulating Ethereum (ETH) toward its goal of owning 5% of the market capitalization. It now holds 4.243 million coins and is on track to hit the 6 million target this year. It also owns 193 Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) in Eightco Holdings, shares worth $19 million, and a recent <a href="https://crypto.news/bitmine-bets-200-million-on-mrbeast-as-mrbeast-financial-eyes-crypto-push/" rel="noopener noreferrer nofollow">investment in Beast Industries</a>.</p>
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  https://twitter.com/BitMNR/status/2015779597694968189
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<p>BitMine, unlike Michael Saylor’s Strategy, has no debt and has over $682 million in cash and short-term investments.&nbsp;Most importantly, it has started staking its Ethereum holdings, a move that will generate over $500 million in annual revenue as long as the staking yield remains above 2.5%.</p>
<p>The main risk the BitMine stock faces is that Ethereum price continues to drop and has formed a risky pattern pointing to more downside in the near term. The chart below shows ETH price has formed a bearish flag pattern and has remained below all the moving averages and the Supertrend indicator.</p>
<p>These patterns, along with ongoing <a href="https://crypto.news/ethereum-price-below-3k-spot-eth-etf-outflow-2025/" rel="noopener noreferrer nofollow">ETH ETF outflows</a>,<strong> </strong>suggest the coin will continue falling, potentially to the key support level at $2,500.&nbsp;</p>
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  <em>ETH price chart | Source: crypto.news&nbsp;</em>
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<p>The ongoing Ethereum price crash will affect the value of its holdings in the near term. However, the only benefit is that Tom Lee believes the long-term ETH forecast is bullish and that it will hit $7,500. If this view is accurate, it means that the falling dollar cost averaging will be beneficial for the company in the long term.</p>
<h2 class="wp-block-heading" id="bmnr-stock-price-technical-analysis">BMNR stock price technical analysis&nbsp;</h2>
<p>The daily timeframe chart shows that the BMNR stock price has remained under pressure in the past few months. It formed a symmetrical triangle pattern and has now moved below its lower side and the 78.6% Fibonacci Retracement level.</p>
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 <img loading="lazy" width="3574" height="2022" src="https://media.crypto.news/2026/01/BMNR-stock.webp" alt="bmnr stock">
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  BMNR stock chart | Source: crypto.news
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<p>The stock remains below the 50-day and 100-day Exponential Moving Averages. Therefore, the most likely scenario is that the stock continues to fall, with the next key support level to watch being the psychological $20 level.</p>
<p>Read more: <a href="https://crypto.news/xrp-price-ledger-milestones-highlight-growing-appeal/" rel="noopener noreferrer nofollow"> XRP price, ledger milestones highlight growing institutional appeal </a></p>

BMNR stock at risk of a big drop as BitMine buys 40,000 ETH

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