Bitmine Immersion Technologies (NYSE:BMNR) bought 15,112 Ethereum (CRYPTO: ETH) last week, lifting its holdings to 6.02 million ETH.
What the Latest Purchase Shows
According to a Monday press release, Bitmine now holds 6,016,414 ETH, worth about $16.4 billion at $2,726 per token and equal to 4.9% of Ethereum’s 122.1 million supply.
Last week’s buy came in smaller than the 17,362 ETH added the week before. Even so, Bitmine has bought ETH every week since launching its treasury strategy on June 30, 2025.
Key figures from the update:
- Total holdings: $17.4 billion across crypto, cash and marketable securities
- Staked ETH: 5.07 million tokens, worth $13.8 billion
- Projected staking revenue: $363 million a year
- Distance to 5% of supply: roughly 89,000 more ETH
Why Lee Says Bitmine Beat the Bear Market
Chairman Tom Lee pointed to how the stock held up while crypto fell. In the first nine months of 2026, ETH dropped 10% while BMNR slipped only 3%.
Lee credited the largest crypto treasury stock buyback on record, with Bitmine retiring 21 million shares this year.
Lee also highlighted ETH’s third-quarter run, which beat the S&P 500 (NYSE:SPY) by roughly 68 percentage points, up from about 67 a week earlier.
ETH gained that ground despite a hawkish Fed, surging oil and rising global bond yields.
What Comes Next for Bitmine
Lee takes the stage at Token2049 in Singapore on Oct. 7 at 10 a.m. for a 20-minute keynote at Marina Bay Sands.
Bitmine will also release its October Chairman’s Message this week, titled “Crypto bull underway: this cycle likely the largest.”
Where BMNR Stands Technically
Price sits right at the 20-day EMA of $25.84 and the Bollinger basis of $25.91, a decision zone for the next move.
The uptrend from July’s low stays intact, with price well above the 50-day, 100-day and 200-day EMAs.
Key levels for BMNR:
- $28.20: recent swing high, resistance above
- $25.84: 20-day EMA, first support
Photo via Shutterstock
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