Bitmine Adds 15,112 ETH, Lifting Holdings to 6.02 Million Tokens

Bitmine Immersion Technologies purchased 15,112 ETH last week, taking its Ethereum position to 6.02 million tokens. In a press release issued Monday, the company said it now holds exactly 6,016,414 ETH, valued at about $16.4 billion based on $2,726 per token. Bitmine said this equates to roughly 4.9% of Ethereum's 122.1 million token supply. The latest buy was smaller than the prior week's 17,362 ETH. Bitmine has added ETH every week since rolling out its treasury strategy on June 30, 2025. The company also reported total holdings across crypto, cash and marketable securities of $17.4 billion. It listed 5.07 million staked ETH valued at $13.8 billion, and projected annual staking revenue of $363 million. Bitmine said it would need about 89,000 additional ETH to reach 5% of Ethereum's supply. Chairman Tom Lee pointed to BMNR's relative resilience during a period of weaker crypto prices. ETH fell 10% in the first nine months of 2026, while BMNR declined 3% over the same stretch. Lee attributed the performance to what he called the largest crypto-treasury stock buyback on record, noting Bitmine has retired 21 million shares this year. Lee also said ETH's third-quarter performance exceeded the S&P 500 by roughly 68 percentage points, up from about 67 percentage points a week earlier, despite a hawkish Federal Reserve, higher oil prices and rising global bond yields. Lee is scheduled to deliver a 20-minute keynote at Token2049 in Singapore on October 7 at 10 a.m. at Marina Bay Sands. Bitmine said it will publish its October "Chairman's Message" this week under the title "Crypto bull underway: this cycle likely the largest." On the technical side, BMNR is trading near its 20-day exponential moving average of $25.84 and its Bollinger basis of $25.91, a band traders are watching for the next directional move. The uptrend from July's low remains intact, with the price still above the 50-day, 100-day and 200-day exponential moving averages. The recent swing high of $28.20 marks a resistance level, while the 20-day EMA at $25.84 is the first support.