Bitmine Stock Price Jumps 5.91% on Latest Ethereum Addition

Bitmine's recent addition of 27,562 Ethereum tokens has sent its BMNR stock price surging by 5.91% on September 20. This purchase brings Bitmine closer to its stated goal of holding 4.9% of the total Ethereum supply, which currently stands at 122.1 million. The company's chairman, Tom Lee, noted that it has been purchasing Ethereum every week since launching its ETH treasury strategy on June 30, 2025.

The addition of this large quantity of Ethereum has also pushed Bitmine's staked ETH position to 5.07 million tokens, generating a 2.62% annualized seven-day yield. The total value of the staked position is approximately $13.6 billion, which represents about 85% of Bitmine's total Ethereum holdings.

Lee expects stronger fourth-quarter crypto performance and believes institutional investors will increase their crypto exposure during this period. He also highlighted that Ethereum has outperformed other macro assets by 6,519 basis points quarter-to-date.