BMNR Stock Rises as BitMine Makes Smallest Ethereum Purchase in Months

BitMine Immersion Technologies, the company behind BMNR stock, has made its sixth-smallest Ethereum purchase on record. Over the past week, the company bought 15,112 Ethereum, worth approximately $41 million at $2,726 per token. This purchase brought its holdings to 6.02 million tokens, accounting for 4.9% of Ethereum's supply.

Chairman Tom Lee attributed this buying strategy to the crypto bull market, stating that this cycle would likely be the biggest yet. Lee noted that BitMine has staked 5.07 million ETH, projecting $363 million in annual staking revenue.

BMNR stock edged higher on Monday morning, alongside the uptick in Ethereum's price, after the company reported its Ethereum purchase. Lee emphasized that BitMine's consistent buying of crypto is unmatched by any public company in the world, having bought ETH every week since June 30, 2025.

Lee also highlighted the company's share buyback in July, acquiring 21 million of its own shares, the largest crypto treasury equity buyback. This move contributed to BMNR's 731 basis points of outperformance compared to Ethereum, which fell 10% over the first nine months of 2026, while BMNR fell only 3%.