Crypto

BitMine Accumulates Ethereum, Sees Outperformance Against Bitcoin

Guavy AI Editorial Team Published August 18, 2026

Instruments

BTC ETH

BitMine Immersion Technologies (BMNR) is accumulating Ethereum (ETH), with holdings now standing at approximately 5.815 million tokens, representing a significant 87% stake.

The company has been steadily buying ETH for several weeks, with its latest purchase of 9,926 tokens increasing its total holdings and continuing a weekly buying streak that began in June 2023.

BitMine has also repurchased 1.7 million BMNR shares this week under its $4 billion stock-buyback program, bringing the cumulative total to 20.8 million shares since July 1.

The firm's staking revenue from its ETH holdings is estimated to be around $250 million annually, providing a steady stream of income for the company.

Thomas Lee, Chairman of BitMine, believes that Ethereum's growing role in tokenized finance and AI-driven commerce could help it gain ground against Bitcoin (BTC).

BitMine Accumulates Ethereum, Sees Outperformance Against Bitcoin

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