BMNR Stock Climbs After Largest ETH Buy Of The Year – Tom Lee Calls Ethereum ‘Harbinger’ Amid US-Iran War

• Bitmine Immersion Technologies added 71,252 Ethereum in its largest weekly purchase of the year.
• The company now holds 4,803,334 ETH, which accounts for about 3.98% of the altcoin’s total circulating supply. 
• Chairman Tom Lee described Ethereum’s resilience during the current geopolitical tensions as a “great harbinger” of broader market strength.

Shares of Bitmine Immersion Technologies (BMNR) gained in early morning trade on Monday after the company announced it had added another 71,252 Ethereum (ETH) to its balance sheet.

Monday’s weekly purchase tally is the largest the company has posted this year. Bitmine has been increasing its Ethereum purchases week-on-week over the past few months. BMNR’s stock gained more than 3% in pre-market trade, but retail sentiment on Stocktwits remained in ‘bearish’ territory over the past day.

Bitmine also announced that it has been approved for uplisting to the New York Stock Exchange (NYSE) from the NYSE American. The company's common stock will start trading on the NYSE on April 9.

Tom Lee Calls Ethereum A ‘Harbinger’ Amid Market Stress

According to Bitmine chairman Tom Lee, Ethereum is a “great harbinger” amid the current war between the U.S. and Iran. He stated that Ethereum has been the second-best performing asset as the U.S.-Iran war enters its 6th week. 

"The war has placed downward pressure on global markets, so it is impressive to see ETH as one of the few to rise on an absolute basis,” he said in a statement. "Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains."

Ethereum’s price rose over 6.2% in the last 24 hours to around $2,150, outperforming Bitcoin (BTC), which rose around 4%. Retail sentiment on Stocktwits around Ethereum also remained in the ‘bearish’ zone over the past day. 

Bitmine now holds 4,803,334 ETH, which accounts for about 3.98% of the altcoin’s total circulating supply. It has staked around 3,334,637 Ethereum, worth around $7.1 billion. The company’s total crypto and cash holdings stood at $11.4 billion, including $8.64 billion in Ethereum, $864 million in cash, 198 Bitcoin, a $200 million stake in Beast Industries, and a $92 million stake in Eightco Holdings (ORBS).

Read also: Bitcoin Nears $70K On US-Iran Ceasefire Talks, $270 Million Shorts Wiped Out

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