The BitMine stock price has crashed in the past few months as demand for digital asset treasury companies waned.
BitMine, which Tom Lee leads, dropped to $31.7 on Monday, down by 80% from its highest point this year. Still, there are several reasons why the BMNR stock price will rebound in 2026.
Technicals suggest that the BMNR stock price could be on the verge of a strong rebound in the coming year. It has formed a falling wedge pattern, characterized by two downward-sloping, converging trendlines.
The upper side of this pattern connects the highest swings since Aug. 13, while the lower side links the lowest swings in July and November.
Therefore, the stock will likely rebound in 2026 and possibly retest the key resistance level at $50, approximately 60% above the current level.
BitMine has become the biggest holder of Ethereum (ETH) with over 4.06 million tokens, which are currently worth over $12.5 billion.
Ethereum has bullish fundamentals and technicals. Its most important fundamentals are that its market share in key industries like decentralized finance and real-world asset tokenization has continued growing even as more layer-1 networks have been launched.
A good example of this is JPMorgan, which launched its first tokenized fund on Ethereum last week. Other companies like Janus Henderson, Centrifuge, and Fidelity have selected it for their tokenization projects.
Ethereum is also the biggest chain in the stablecoin industry, with over $188 billion in stablecoin supply, representing a 54% market share. Other top chains like Tron, Solana, and BSC follow it.
Technicals suggest that the token has more upside in the coming year as it has formed an inverted head-and-shoulders pattern on the three-day chart. As such, the token will likely rebound and retest the psychological level at $5,000, which will benefit BitMine.
The other bullish catalyst for BitMine stock price is the upcoming launch of Made in America Validator Network (MAVAN), which will launch in the first quarter.
This product, which is now in trial mode, will help the company generate monthly return on its Ethereum holdings. Tom Lee believes that the company will be making over $330 million in annual revenue from staking.
BitMine has a strong balance sheet with no debt. This is unlike Strategy, which has over $8 billion in total debt.
The company is instead using its equity to accumulate the Bitcoin holdings. In August, it expanded its at-the-market offering to $24.5 billion.
ATM offerings are usually highly dilutive as they increase the number of outstanding shares. However, unlike Strategy, which has an open-ended Bitcoin (BTC) buying goal, BitMine’s goal is to buy 5% of Ethereum’s supply and then start to monetize it through MAVAN.
It has already bought 3.36% in the last five months, meaning that it will achieve that goal in the first half of next year and stop the ATM offerings.
