Key Highlights
- Bitmine acquired 9,946 ETH during the past week, expanding total reserves to 5,787,414 ETH valued at $11.2 billion
- The company’s Ethereum position now represents 4.8% of the asset’s circulating supply, approaching its 5% objective
- BMNR shares jumped more than 5%, reaching approximately $16 per share
- Stock repurchases accelerated to 6.1 million shares, up from the previous week’s 5.5 million
- Executive Chairman Tom Lee highlighted the ETH/BTC ratio reaching a 3-month peak of 0.3000 as a positive market indicator
Bitmine (BMNR) expanded its Ethereum treasury by acquiring 9,946 ETH over the past week, a purchase valued at approximately $19.4 million based on current market rates. This strategic acquisition elevates the company’s aggregate Ethereum holdings to 5,787,414 ETH, representing a market value of $11.2 billion.
Bitmine Immersion Technologies, Inc., BMNR
The latest acquisition represents an uptick from the previous week’s purchase of 7,430 ETH. Since initiating its Ethereum treasury initiative in June 2025, the firm has maintained a consistent weekly purchasing cadence.
Following the announcement, BMNR shares advanced more than 5%, with the stock trading near the $16 mark.
Bitmine currently controls around 4.8% of Ethereum’s total supply in circulation. Management has established a long-range target of acquiring 5% of the network’s supply.
Among its comprehensive holdings, approximately 4,917,189 ETH — representing roughly 85% of the portfolio — is actively staked, commanding a valuation near $9.6 billion.
Executive Chairman Highlights ETH/BTC Performance
Executive Chairman Tom Lee referenced the strengthening ETH/BTC ratio as a primary driver behind the company’s ongoing acquisition strategy and intensified share repurchase activity.
“We view the rising ETH/BTC ratio, despite the falling odds of passage of the CLARITY Act in 2026, as a sign crypto prices are strengthening,” Lee said.
The ETH/BTC trading pair has climbed to a 3-month peak of 0.3000. According to Lee, this momentum signals positive prospects for continued Ethereum price appreciation.
Ethereum reached a 10-week peak earlier this week. Lee identified $2,000 and $2,500 as critical technical resistance levels to monitor.
Ethereum has appreciated approximately 24% during the past 30 days, significantly outperforming bitcoin’s 8% advance over the identical timeframe, per CoinDesk market data.
Share Repurchase Activity Intensifies
The company also amplified its stock buyback initiative during the past week, repurchasing 6.1 million shares. This marks an increase compared to the prior week’s acquisition of 5.5 million shares.
These repurchases fall under a comprehensive $4 billion share buyback authorization. To date, the company has retired a cumulative total of 11.6 million shares through this program.
Lee emphasized that the escalated buyback activity demonstrates management’s conviction in favorable current market conditions.
Tom DeMark, Bitmine’s technical advisor from DeMark Analytics, projects near-term Ethereum price objectives of $2,000 and $2,500, drawing parallels between ETH’s current price behavior and the S&P 500’s trajectory following the October 1987 market period.
Ethereum is presently trading above the $1,900 level, which Lee characterized as a psychologically significant price threshold.
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