Key Highlights
- Bitmine acquired 9,946 ETH during the previous week, expanding total reserves to 5,787,414 ETH valued at $11.2 billion
- The company’s holdings now represent 4.8% of Ethereum’s available supply, approaching its 5% objective
- BMNR shares climbed more than 5%, reaching approximately $16
- Stock repurchases expanded to 6.1 million shares from 5.5 million during the previous period
- Executive Chairman Tom Lee highlighted the ETH/BTC ratio reaching a 3-month peak at 0.3000 as a positive indicator
Bitmine (BMNR) expanded its Ethereum reserves by 9,946 ETH during the past week, representing approximately $19.4 million based on current market valuations. This acquisition elevates the company’s aggregate position to 5,787,414 ETH, with a market value of $11.2 billion.
Bitmine Immersion Technologies, Inc., BMNR
This week’s acquisition represents an uptick from the previous period’s 7,430 ETH purchase. The firm has maintained consistent weekly Ethereum acquisitions since implementing its treasury accumulation program in June 2025.
BMNR shares advanced more than 5% following the announcement, with trading activity centered around the $16 mark.
Bitmine currently controls roughly 4.8% of the total Ethereum tokens in circulation. The firm has publicly outlined its ambition to reach a 5% ownership threshold.
Among the company’s total reserves, 4,917,189 ETH — approximately 85% of holdings — remains deployed in staking operations, representing roughly $9.6 billion in value.
Lee Highlights ETH/BTC Performance
Executive Chairman Tom Lee identified the strengthening ETH/BTC ratio as a primary catalyst for continuing the acquisition program and expanding share buyback 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 reached a 3-month peak at 0.3000. Lee indicated this performance suggests additional upside potential for Ethereum pricing.
ETH reached a 10-week high earlier this week. Lee identified $2,000 and $2,500 as critical technical resistance zones to monitor.
Ethereum has appreciated approximately 24% during the last 30 days, surpassing bitcoin’s 8% advance over the identical timeframe, based on CoinDesk market data.
Share Repurchase Activity
Bitmine intensified its stock buyback initiative during the previous week, repurchasing 6.1 million shares. This marks an increase from the 5.5 million shares acquired in the preceding period.
The repurchase activity operates under a $4 billion authorization framework. Bitmine has now reacquired an aggregate 11.6 million shares through this initiative.
Lee emphasized that the enhanced buyback activity demonstrates management’s conviction regarding current market conditions.
Tom DeMark, serving as Bitmine’s technical advisor through DeMark Analytics, projects $2,000 and $2,500 as immediate-term Ethereum price objectives, drawing parallels between ETH’s current trajectory and the S&P 500’s behavior during the post-October 1987 recovery phase.
ETH presently trades above the $1,900 price point, which Lee characterized as a significant psychological benchmark for market participants.
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