BMNR Stock Gains 7% as BitMine Adds $14B Worth of Ethereum Tokens

BitMine Immersion Technologies has expanded its Ethereum treasury by adding 32,447 tokens, causing BMNR stock price to surge over 7%. The company now holds 5,847,611 ETH, accounting for approximately 4.8% of the total Ethereum supply.

The acquisition valued BitMine's Ether position at around $14.27 billion using a Coinbase reference price of $2,440. This brings the company's staking balance to 5,067,309 ETH, with an estimated annualized revenue of approximately $330 million.

Chairman Thomas Lee attributes the recent Ethereum advance to improved crypto fundamentals, Wall Street tokenization, and agentic artificial intelligence. He also notes that easing financial conditions have supported the crypto market recovery.