Bitmine's ETH Hoard Nears 5% Target as BMNR Stock Price Dips

Bitmine Immersion Technologies made headlines after announcing its acquisition of 27,180 ETH over the past week. This purchase pushed Bitmine's Ethereum holdings to approximately 5.96 million coins, representing a significant portion of the cryptocurrency's total supply.

The company's Chairman Tom Lee reiterated the goal of reaching 'Alchemy of 5%' ownership, but despite the recent buy, BMNR stock price dipped slightly on September 14. The stock fell about 0.5% in early Monday trading, according to Google Finance data.

Bitmine's Ethereum holdings are valued at around $15 billion, with the majority of its ETH staked in its MAVAN validator network generating an annualized yield of over $330 million. The company also holds a significant amount of cash and marketable securities, as well as equity stakes in other companies.

The recent purchase is part of Bitmine's weekly accumulation strategy, which began in late June 2025. At the current rate, Bitmine is approximately 122,000 ETH away from its 5% target.