BMNR Stock: The Falling Wedge of Doom or a Crypto Cinderella Story?

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Well, well, well. Here we are again, staring at the BMNR stock price like it’s a particularly stubborn crossword clue. Hovering at the dizzying height of $20-a crucial support level, they say-BitMine is doing its best impression of a tightrope walker who’s had one too many espressos. Meanwhile, they’re busy hoovering up Ethereum like it’s going out of fashion, which, let’s face it, it might be, given the whims of the crypto gods.

  • BitMine’s stock has formed a falling wedge pattern, which apparently means it’s about to rebound. Or collapse. One of the two. Let’s hope it’s the former, for the sake of someone’s pension fund.
  • Ethereum’s transactions and network fees are soaring, which is either a sign of its unstoppable rise or the financial equivalent of a sugar rush. Time will tell.
  • The supply of ETH tokens on exchanges is falling faster than my enthusiasm for small talk at parties. Apparently, this is a good thing.

Now, let’s not forget that BMNR stock has taken a nosedive of over 85% since its July 2023 peak. That’s the kind of drop that makes even the most seasoned investor reach for the smelling salts. But fear not! It’s also forming a highly bullish falling wedge pattern, which sounds like something you’d find in a particularly optimistic geometry textbook. A rebound is nigh, they say. Or so the tea leaves-I mean, charts-suggest.

In a statement that could only be described as “cryptically optimistic,” Tom Lee’s BitMine announced it’s still buying Ethereum like it’s Black Friday at the crypto mall. Their holdings now stand at a whopping 4.326 million ETH, 193 Bitcoin, and nearly $600 million in cash. Oh, and let’s not forget their $200 million stake in Beast Industries and $19 million in Eightco Holdings, because why not throw a bit of Worldcoin into the mix? Diversity is key, after all.

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BitMine provided its latest holdings update for February 9th, 2026:

$10.7 billion in total crypto + “moonshots”:
– 4,325,738 ETH at $2,125 (@coinbase)
– 193 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $19 million stake in Eightco Holdings (NASDAQ:…

– Bitmine (NYSE-BMNR) $ETH (@BitMNR) February 9, 2026

Now, Ethereum’s fundamentals are apparently on the up and up, with transactions, fees, and active addresses soaring like a rocket launched by a particularly enthusiastic toddler. The Fusaka upgrade has only poured fuel on this fire, and staking inflows are rising faster than my skepticism about crypto predictions. Speaking of staking, the queue has jumped to over 4 million coins, with entry times stretching to a leisurely 70 days. Demand, it seems, is alive and well.

Meanwhile, the supply of ETH tokens on exchanges is dwindling faster than my patience for meetings that could have been an email. It’s now at its lowest level since 2016, which is either a sign of impending doom or a golden opportunity. Place your bets, folks.

BMNR Stock Price Prediction: Technical Analysis (or, How to Read Tea Leaves with a Ruler)

Ah, the daily chart. A thing of beauty, or a harbinger of despair, depending on your perspective. BMNR has been on a downward spiral from its $160 peak to the current $20, which is the financial equivalent of tripping down a flight of stairs in slow motion. But fear not! The falling wedge pattern is here to save the day, with its two descending trendlines converging like a pair of long-lost friends at a high school reunion.

The Relative Strength Index has also perked up, moving from a woeful 30 to a slightly less woeful 32. So, yes, a bullish breakout is on the cards, they say, potentially sending the stock soaring to $35-its January high. Or, you know, it could all go horribly wrong. Such is the life of a crypto investor.

In conclusion, BMNR stock is either on the brink of a glorious rebound or a spectacular collapse. Place your bets, grab your popcorn, and remember: in the world of crypto, the only certainty is uncertainty. And that’s what makes it so delightfully, infuriatingly fascinating.

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2026-02-09 20:56