IS IT THAT TIME AGAIN?? Shares of Bitmine Immersion Technologies Inc (NYSE:BMNR) are trading higher Wednesday morning, hovering near $30, as the company aggressively expands its cryptocurrency treasury amid market volatility. Hereโs what investors need to know. - - BMNR stock is gaining positive traction. See if it is worth your attention here. - What To Know: Under chairman Tom Lee, BitMine has doubled down on its Ethereum (CRYPTO: ETH) โsupercycleโ thesis, recently purchasing an additional 69,822 ETH. This acquisition pushes the company's total treasury to approximately 3.63 million ETH, representing roughly 3% of the tokenโs entire global supply. While Lee argues that current prices offer โasymmetric risk/reward,โ the strategy has come at a steep short-term cost. With an average cost basis of roughly $3,997 per token, the portfolio is currently carrying billions in unrealized losses as Ethereum trades near $2,900. BitMine's Ethereum accumulation dwarfs traditional corporate treasury moves, but it also magnifies risk. If ETH prices rebound toward prior cycle highs, the company could swing from multi-billion-dollar unrealized losses to record unrealized gains quickly, but the magnitude of risk should not be overlooked. Despite these paper losses, investors appear encouraged by BitMineโs operational moves. The company also plans to launch a โMade in Americaโ validator network in early 2026 to generate yield on its massive holdings.