BitMine Immersion Technologies expanded its Ethereum treasury by acquiring 15,112 ETH over the past week, lifting total holdings to 6,016,414 ETH — about 4.9% of Ethereum’s stated 122.1 million token supply. At a reference price of $2,726 per token, the company valued its ETH position at approximately $16.4 billion. BMNR stock traded near $24.01 on October 12, down 0.12% from the previous close.
The company has staked 5,067,309 ETH through its MAVAN platform and partners, worth about $13.8 billion, representing 84% of its ETH balance. BitMine projected annualized staking revenue of $363 million based on a seven-day annualized yield of 2.63%.
Other disclosed assets included 214 Bitcoin, a $180 million stake in Beast Industries, a $117 million stake in Eightco Holdings, and $643 million in cash and marketable securities. Chairman Thomas Lee said most of the Ethereum accumulation occurred during a crypto bear market, and the company is nearing its 5% supply target ahead of an expected bull market.
Lee separately highlighted BitMine’s $350 million share buyback, describing it as the largest share repurchase in crypto industry history. The company bought back 21 million shares between July 14 and August 17, aiming to establish a price floor for BMNR stock and signal confidence in its Ethereum strategy. Its BMNP preferred shares, issued in June at $80, last closed at $99.53, a gain of about 24%.
Ethereum traded near $2,528.36 after a volatile session, with a seven-day decline of about 7.3%. Lee said that for the first nine months of 2026, Ethereum fell 10% while BMNR stock declined only 3%, an outperformance of 731 basis points.
