Bitmine Stock Surges 6% After Adding $1.53 Billion in Ethereum Holdings
Bitmine's (BMNR) BMNR stock price surged by nearly 6% on September 20, following the addition of another 27,562 Ethereum to its treasury. This latest purchase brings Bitmine's total Ethereum holdings closer to six million tokens, which represents about 4.9% of the current supply.
This move has put Bitmine at roughly 98% of its stated 5% accumulation target for Ethereum, sparking renewed attention to the company's expanding Ethereum exposure and BMNR stock price. Chairman Tom Lee noted that Bitmine has been purchasing Ethereum every week since launching its ETH treasury strategy on June 30, 2025.
The staked position carries a value of approximately $13.6 billion, with a projected annualized seven-day yield of 2.62%. This translates to an estimated $357 million in annualized staking revenue, which is expected to increase to $421 million once the entire ETH position becomes staked.