Bitmine Buys $81M Worth of Ethereum as Shares Surge

Bitmine Immersion Technologies (NYSE:BMNR) has been actively purchasing Ethereum, adding to its treasury strategy. In one week alone, the company picked up 32,447 ETH for approximately $81 million, bringing its total holdings to 5,847,611 ETH, worth around $14.6 billion.

This represents about 4.8% of Ethereum's total supply of 120.7 million tokens. Bitmine has been consistently adding ETH every week since launching its treasury strategy in June 2025, with roughly 187,000 tokens still needed to hit its 5% target.

On the staking side, Bitmine has put 5.07 million ETH to work through its MAVAN institutional staking platform, generating a 7-day annualized yield of 2.67%. This is expected to project $330 million in annualized staking revenue at current prices.

Bitmine Chairman Tom Lee notes that Ethereum's recent 30% weekly gain is the largest since May 2025 and suggests it may be a launch point rather than a peak, as it was in July 2021. The ETH/BTC ratio has already climbed from 0.018 to around 0.030 this cycle, driven by tokenization and AI.

Lee argues that the next driver of Ethereum's outperformance is far larger and more structurally significant than any prior catalyst, including ICOs, NFTs, and stablecoins.

BMNR has surged 4% on Monday, breaking above its 200-day EMA at $22.06 and hitting fresh multi-month highs at $24.02. The MACD shows the widest histogram reading of the entire recovery, indicating accelerating momentum.