Bitmine's Ethereum Accumulation Pushes BMNR Stock Up 3.95%
Bitmine Immersion Technologies (BMNR) has made significant strides in its Ethereum accumulation strategy, announcing that it has added nearly 10,000 ETH to its treasury. This purchase brings Bitmine's total Ethereum holdings to approximately 5.82 million coins, representing a substantial 4.8% of the digital asset's circulating supply.
The company's Ethereum position is nearing its target of securing 5% of Ethereum's total supply, with roughly 96% of this goal achieved within a 14-month timeframe. Bitmine has been steadily purchasing Ethereum since June 30, 2025, and has made significant progress in deploying its staked ETH into high-yielding staking operations.
The company's treasury expansion announcement also led to an increase in BMNR stock price, with the shares rising by 3.95% to $18.80. This growth is a result of Bitmine's diversified holdings, including Bitcoin and strategic investments, as well as its share buyback program, which has repurchased over 20.8 million shares since July.