Bitmine Immersion Technologies (NYSE:BMNR) bought 7,391 Ethereum (CRYPTO: ETH) last week as Chairman Tom Lee said falling Fed rate hike odds point to easing conditions ahead for crypto.
What Bitmine Bought And Why The Fed Matters?
According to a Monday press release, Bitmine now holds 5,805,238 ETH worth roughly $11.2 billion at $1,928 per coin, representing 4.8% of Ethereum’s total circulating supply and sitting 96% of the way to its stated goal of owning 5%.
The purchase extends the company’s unbroken streak of weekly ETH buying to 14 consecutive months since adopting its Ethereum treasury strategy in June 2025.
Lee said the Clarity Act missing its Senate vote before recess was a disappointment, but financial markets are looking past it toward the macro picture.
Fed rate hike odds for September dropped from 75% to 40% over the past two weeks, driven by softer inflation and jobs data, including July nonfarm payrolls falling by 23,000.
“We expect easing financial conditions to be a tailwind for crypto,” Lee said.
Why Lee Is Still Buying BMNR Stock?
Bitmine repurchased 3 million common shares last week, bringing total buybacks to 19.1 million shares since July 1 under its $4 billion repurchase program.
Lee called it the largest common stock buyback ever executed by any Ethereum, Bitcoin, or crypto digital asset treasury.
He said the pattern from prior months supports continued confidence in BMNR shares.
In July, ETH outperformed Bitcoin by 1,100 basis points, matching similar moves in July 2025, December 2025, and March 2026. In each of those prior instances, BMNR shares outperformed ETH in the following two months.
Where Staking Revenue Stands?
Bitmine now has 5,067,309 ETH staked through its MAVAN validator platform, representing 87% of total holdings and worth roughly $9.8 billion at current prices.
The 7-day annualized staking yield sits at 2.63%, projecting $257 million in annualized staking revenues. At full deployment, projected rewards reach $294 million annually.
Bitmine remains the largest Ethereum treasury in the world and the second-largest global crypto treasury behind Strategy Inc. (NASDAQ:MSTR).
BMNR Technical Analysis
BMNR is down 2% on Monday, holding inside a clean ascending channel from the June 30 low at $13, already a 46% recovery.
Price broke above the 100-day EMA at $19.09 for the first time since the decline began, a significant structural milestone, with the Parabolic SAR at $16.90 comfortably below confirming the uptrend intact.
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