Key Insights
BMNR stock trades near $28.36 support, with breakdown risk toward $24.31 if buyers fail.
BitMine has staked 408,627 ETH ($1.2B) to turn its treasury into revenue instead of a passive holding.
A reclaim of $35 needs a stronger CMF and visible staking income to flip the short-term structure.
BMNR stock trades near $28.36, down 12% in five days and 15% in six months. It is trying to stay above this level because losing it exposes the next supports at $24.31 and $22. It lost $35 on December 12 and has not been able to reclaim it since.
The stock is now reacting to pressure instead of leading the price. This is why the company is trying something new.
BitMine Is Choosing Yield To Stay Afloat
BitMine owns 4.11 million Ethereum. This is a huge amount. If we multiply it by the current price, a figure closely watched across Ethereum news, of ETH, the treasury is worth more than $12 billion. Before, this ETH just sat in the treasury like savings in a wallet.
Now the plan is different.
BitMine has taken 408,627 ETH (around $1.2 billion) and started staking it. Staking means locking ETH into the blockchain to help validate transactions.
Validators earn rewards in ETH for doing this work. These rewards change daily because they depend on the network, the number of validators, how busy Ethereum is, and the price of ETH.
It is a survival plan given the current state of the crypto market. Instead of waiting for the price to go up, BitMine is trying to earn ETH every day. This means the company creates income even if the market goes sideways.
Right now, only around 10% of the total ETH treasury is staked. This is like testing the engine before driving the full car.
If BitMine later stakes more ETH, the reward line could grow and become a real business line, not just a small experiment.
Why Staking Matters for BMNR Stock Right Now
This shift is happening at an important moment.
BMNR stock is sitting at support. It is almost like holding the edge of a cliff. If the support at $28.36 breaks, the chart opens to $24.31 and then $22. These numbers come from past price areas where buyers defended the chart. If they fail now, it becomes a fall.
The Chaikin Money Flow (CMF) is below zero. CMF is an indicator that shows if big money is entering or leaving.
Above zero means money is entering. Below zero means money is leaving.
BMNR has stayed below zero since September 26, when the price was above $50. This tells us institutions and large traders pulled back months before the drop. They have not returned yet.
This is why staking is being treated as a lifeline.
If BitMine starts showing staking rewards in earnings reports, CMF might be the first indicator to react. If CMF crosses above zero and stays above it, that means big buyers are returning. This would support attempts to reclaim $35.
There is also support from Ethereum’s side.
The validator entry queue on Ethereum has almost doubled compared to the exit queue.
The entry queue shows how many people want to stake ETH. When entry is much higher than exit, it means big money is choosing yield over trading. BitMine is moving in that direction with them.
CESR sets the earning range. BitMine is now benchmarking its staking program to CESR, which means the Composite Ethereum Staking Rate.
This is a reference yield used by institutions to measure staking rewards in a simple way.
CESR is around 2.8% right now, which is considered conservative.
If BitMine staked most of its ETH treasury at that rate, the company could earn hundreds of thousands of dollars in ETH rewards per day. This is not guaranteed income, because staking rewards change with validator performance, market prices, and network conditions. But it gives a framework for scale.
This is where the “$1 million per day” idea comes from.
Analysts say BitMine could reach that number only if it stakes most of its 4.11 million ETH, if validators run smoothly, if yields stay elevated, and if the ETH price stays high.
Right now, with only 408,627 ETH staked, the realistic range is much lower, closer to $100,000 to $167,000 per day in rewards during normal conditions. This is still meaningful because it turns the treasury into an income engine instead of just a storage vault.
Can Staking Help BMNR Reclaim $35?
Right now, BMNR stock is trying to avoid a breakdown. Staking gives it a new narrative.
Instead of being only a “proxy stock,” BMNR is slowly becoming a staking-backed utility. A company that earns from holding crypto and validating the network, not just waiting for the price.
For the market, here is the simple roadmap. First, defend $28.36 to avoid a breakdown. Second, reclaim $35 to show strength again. Third, show staking growth in quarterly earnings.
And finally, let CMF confirm if big money returns.
If these steps line up, BMNR stock can move from defense to recovery. If the price falls below $28.36, the staking story may not save the chart in the short term. It would still matter long term, but the stock would likely drift toward $24.31 or $22 before trying again. This is why the staking decision matters right now, not later.
