BitMine Immersion Technologies Inc. (BMNR) saw its stock price surge 5.02% during overnight trading. The move was part of a broader rally across cryptocurrency-related stocks.

The company's significant purchase of 101,627 Ethereum last week, valued at approximately $230 million, served as a key catalyst. This acquisition marks BitMine's largest single-week accumulation of 2026 and demonstrates an accelerated pace of buying, lifting its total holdings closer to 5% of Ethereum's circulating supply.

The rally was also supported by a positive sentiment shift in the crypto sector, as major crypto stocks gained ground following the U.S. announcement of a ceasefire extension with Iran, which helped reduce near-term geopolitical uncertainty for risk assets.