Bitmine's $11.2 Billion ETH Holdings Soar as Crypto Prices Strengthen

Bitmine (BMNR) stock jumped over 5% after the company announced it had purchased 9,946 ETH, worth around $19.4 million at current prices, bringing its total holdings to 5,787,414 ETH valued at $11.2 billion.

This latest purchase marks an increase from the prior week's buy of 7,430 ETH and brings Bitmine closer to its long-term goal of holding 5% of Ethereum's circulating supply, currently sitting at around 4.8%. The company has been buying ETH every week since launching its treasury strategy in June 2025.

Chairman Tom Lee attributed the continued buying and increased share repurchases to the rising ETH/BTC ratio, which is now at a 3-month high of 0.3000. He views this as a sign that crypto prices are strengthening, despite the falling odds of passage of the CLARITY Act in 2026.

The company has stepped up its share repurchase program, buying back 6.1 million shares last week compared to 5.5 million the previous week. This is part of a $4 billion share repurchase authorization and reflects Bitmine's confidence in the current market setup.