BMNR Stock Jumps as BitMine Buys 42K ETH Amid Strategy’s Bitcoin Sale

Bitmine (NYSE: BMNR) stock price is up by 4.28% today, July 6, to trade at $14.98 at the time of writing. These gains come after Bitmine announced that it bought an additional 42,197 ETH, with this purchase taking place during the same week that Strategy sold 3,588 BTC.

Bitmine’s Ethereum Holdings Reach 5.74 million ETH

Bitmine has disclosed that it now holds 5,742,237 ETH after buying 42,197 coins between June 29 and July 3. The Ethereum treasury company now holds 4.8% of the entire Ethereum supply.

The recent purchase has also increased the amount of ETH that Bitmine has staked to 4,879,157 coins, with this staked amount being 85% of the Ethereum it holds. Bitmine notes that the staked ETH generates a yield of around $235 million every year.

Bitmine’s purchase has stirred gains for the BMNR stock because it moved from an opening price of $14.39 to $15.04 at the time of writing.

But while BMNR stock gained, Strategy (NASDAQ: MSTR) dropped by 1.17% after Strategy sold 3,588 BTC to buy back the STRC stock.

The divergence between the two crypto stocks suggests that investors could be betting on a HODL strategy by crypto treasury companies.

BMNR Stock Outlook as Bulls Target Key Resistance Level

The price of BMNR stock is testing the resistance of $15 after its 4% gain. The last time that Bitmine shares traded above this obstacle of $15 was on June 23.

If BMNR closes above $15, the next obstacle lies at the 50-day EMA level of $15.88, with a move above this EMA set to suggest that the trend is shifting in favor of bulls.

The RSI reading of 53 also supports a bullish BMNR stock forecast. This RSI has moved from a reading of 31 on June 30 to 53 on July 6, suggesting that the momentum is now favoring bulls.

If bulls weaken their grip and investors that want to book profits after the recent gains begin to sell, the crypto stock could move to the support level of $13.

Bitmine’s Chairman Tom Lee Flips Bullish on Stocks in July

The gains seen with the BMNR stock price come as the chairman of Bitmine, Tom Lee, says that US stocks are going to rise in July 2026.

Lee was speaking in an interview with CNBC’s Squawk Box, where he opined that the companies that will report their Q3 earnings in July are going to surpass Wall Street expectations, and this could cause stock prices to rise.

He also added that the S&P 500 index could rise from the current 7,500 points and reach 8,000 points in 2026.

Bitmine will release its earnings for the period between April 2026 and June 2026 on July 29, and Wall Street expects the company’s revenue to reach $45 million.