Bitmine Stock Climbs as ETH Holdings Surpass 6 Million

Bitmine stock (BMNR) saw a rise on October 5, following the company's disclosure of updated treasury figures and another Ethereum purchase. The stock traded around $26.96 during the morning session, marking a roughly 2.6% increase from its prior close of $26.27. Bitmine reported holding 6,016,414 ETH, 214 Bitcoin, and $643 million in liquid assets, with a total valuation of $17.4 billion across its crypto, securities, and cash holdings.

The Ethereum holdings represented the largest position in Bitmine's portfolio, valued at $2,726 per ETH based on Coinbase pricing. The company also held smaller stakes in Beast Industries ($180 million) and Eightco Holdings ($117 million), which trades under the Nasdaq ticker ORBS. Notably, Bitmine acquired 15,112 ETH over the past week, continuing its weekly Ethereum purchases since launching its ETH Treasury Strategy on June 30, 2025.

Chairman Tom Lee provided performance figures, noting that ETH declined 10% during the first nine months of 2026, while Bitmine stock fell 3%. Despite this, ETH outperformed the S&P 500 by 6,832 basis points during the third quarter of 2026. Lee also highlighted that Bitmine acquired 21 million shares in 2026 through its equity buyback activity, described as the largest-ever crypto treasury equity buyback.

Looking ahead, Lee is scheduled to deliver a keynote at the Token2049 event in Singapore on October 7. The company emphasized that the article is for informational purposes only and does not constitute financial or investment advice.