Bitmine ETFs Soar 12% Amid Ethereum Treasury Updates

The Bitmine leveraged ETFs have experienced significant price swings this week, with both BMNU and MBNG up around 12% despite a sharp selloff.

This volatility is not surprising given the renewed investor interest in Bitmine shares following recent updates from the company.

Bitmine's Ethereum treasury holdings now stand at $11.8 billion, including 5.79 million ETH, which accounts for approximately 4.8% of Ethereum's global supply.

The company has also repurchased 11.6 million shares since July 1 under its $4 billion buyback program and has staked about 85% of its Ethereum holdings through its validator network, with projected annualized staking revenue of $254 million.