BitMine Stock Surges 14% as Market Cap Nears $15.9 Billion
BitMine's stock price surged 14% on September 3, 2026, as its market capitalization approached $15.9 billion, closely matching its disclosed assets.
The company's shares traded at $26.355 per share, with a trading volume of 46.16 million shares. This pushed BitMine's market capitalization to roughly $15.90 billion, only 1.9% higher than its most recent reported assets of $15.6 billion.
According to the data, ether accounted for 93.2% of the share price before deducting liabilities and other obligations. The majority of BitMine's ether holdings is generating income through staking, with an estimated annualized revenue of $340 million based on a seven-day yield of 2.67% per year.
Chairman Thomas Lee stated that the company acquired 53,501 ETH over the past week, with projected annualized staking revenue standing at $340 million. However, ether's price may fluctuate more quickly than BitMine's stock, and staking is subject to slashing, custody, and protocol risks.