
Strategy and Bitmine Immersion Technologies Tumble 6%: Is the Crypto Treasury Trade Running Out of Steam?
Strategy (NASDAQ:MSTR) stock and Bitmine Immersion Technologies (NYSE:BMNR) stock are both sliding 6% Wednesday afternoon.

Strategy (NASDAQ:MSTR) stock and Bitmine Immersion Technologies (NYSE:BMNR) stock are both sliding 6% Wednesday afternoon.

It just keeps adding to its holdings in the high-profile cryptocurrency. It also has a limited collection of related assets.

Bitmine Immersion Technologies (BMNR) offers leveraged exposure to Ethereum via the largest ETH-USD treasury, currently holding 4.47 million ETH. BMNR's MAVAN staking network is expected to generate over $250 million in annualized recurring revenue, transforming the company into an income-generating ETH infrastructure play. The $200 million investment in Beast Industries provides strategic access to Gen Z and Millennial audiences for future DeFi and fintech integrations.

BitMine Immersion Technologies Inc (NYSE: BMNR) is trading higher Wednesday morning as cryptocurrencies rally, with Ethereum (CRYPTO: ETH) up about 5% to roughly $2,100. Here's what investors need to know.

The "treasury" crypto company reported, hardly for the first time, an increase in its top holding. It's now in possession of more than $9 billion worth of Ethereum.

Bitmine Immersion: Ethereum's Biggest Public Whale

GSA Capital Partners LLP lessened its stake in Immersion Corporation (NASDAQ: IMMR) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,234 shares of the software maker's stock after selling 109,037 shares during the period. GSA Capital Partners LLP owned about

AVENTURA, Fla.--(BUSINESS WIRE)--Immersion Corporation (“Immersion”, the “Company”, “we”, “us” or “our”) (Nasdaq: IMMR), a leading provider of technologies for haptics, today announced that, on February 10, 2026, the Company received a Staff Determination Letter from the Nasdaq Listing Qualifications Staff (the “Staff”) based on the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Rule”), as previously notified by the Staff on August 20, 2025, September 29, 2025, and De.

Bitmine Immersion is a large holder of Ethereum, whose price crashed this week. The company's president quickly retired, and it is investing millions into Mr.

BMNR has declined 43% since last coverage, mirroring Ethereum and Bitcoin weakness during a broad crypto risk-off selloff. Bitmine holds 4.285 million ETH, representing 3.55% of total supply, targeting a long-term 5% ownership goal. Fully staking the treasury could generate $374 million annually at 2.81% yield, totaling $542–583 million pre-tax income.

After hitting a 52-week high of $161 last summer, Bitmine Immersion Technologies now trades for just $26. The market cap of Bitmine Immersion Technologies is now almost exactly equivalent to the value of its Ethereum holdings.

BitMine Immersion Technologies faces continued share price weakness amid depressed crypto markets with Ethereum trading below $3,000. The Ethereum treasury business is making tangible progress toward sustainable pre-tax income via a staking yield of up to 3%. Investor focus has been diverted by the Mr. Beast investment, overshadowing core business developments.

TAMPA, Fla., Jan. 20, 2026 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced that it has successfully energized the second BC40 Elite immersion cooled Foghashing unit at its Oklahoma site.

Bitmine is aggressively building an Ethereum stake, aiming for 5% of all ETH and currently holding 4.168 million tokens. To fund its purchases, Bitmine has heavily diluted shareholders, taking shares outstanding from 4.3 million to 455 million in under a year. Bitmine announced a $200 million equity investment in Beast Industries, marking its second venture investment after Eightco Holdings.

Bitmine Immersion Technologies (BMNR) is aggressively accumulating Ethereum, aiming to control 5% of total supply under its 'Alchemy of 5%' strategy. BMNR trades below book value with $14B in cash and crypto holdings, minimal liabilities, and a market cap of $13.3B. The company plans to launch its MAVAN staking infrastructure in Q1 2026, targeting recurring revenue.

Bitmine Immersion Technologies is a crypto treasury company similar to Strategy (formerly MicroStrategy). The company is aiming to raise funds through common stock offerings to buy Ethereum.

U.S. stock futures trading slightly lower. NetEase's executive VP retires. Obook reports earnings. Immersion receives delinquency notice.

AVENTURA, Fla.--(BUSINESS WIRE)--Immersion Corporation (“Immersion”, the “Company”, “we”, “us” or “our”) (Nasdaq: IMMR), a leading provider of technologies for haptics, announced that on December 23, 2025, it received a delinquency compliance alert notice (the “10-Q Nasdaq Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended Octob.

BitMine Immersion Technologies (BMNR) has transformed into the world's largest public Ethereum treasury, holding over 4 million ETH worth $12 billion. BMNR trades at 0.80x book value, a 20% discount to NAV, with the stock consolidating near critical $25-28 support after a 170% gap-up in July 2025. Technical setup targets $131. The MAVAN staking solution, launching in early 2026, could convert BMNR's passive ETH holdings into a yield-generating asset, supporting income and dividends.

Bitmine Immersion Technologies is up big for the year, but those gains all came during the summer. The value of Bitmine ($13 billion) is now almost identical to the value of its Ethereum holdings ($12 billion).