Bitmine Adds 7,391 ETH, Stakes 87% of Holdings, and Buys Back 3M Shares
BMNR sits 43% above its 52-week low of $12.8 on light trading volume (0.3× avg).
Summary
Bitmine bought another 7,391 ETH this week for $14.3 million, bringing its total to 4.8% of circulating supply — 96% of its 5% target. The company now stakes 87% of its 5.07M ETH, worth $9.8B, generating $194M in annual rewards at a 2.63% yield. It also repurchased 3M shares this week, part of a $4B buyback program that has retired 19.1M shares since July. The stock remains deeply depressed, down 69% over the past year to $18.38, while the underlying ETH holdings and staking income continue to grow. This follows last week's update showing 5.8M tokens and 96% progress toward the supply goal. The combination of aggressive ETH accumulation, rising staking revenue, and heavy buybacks signals management's conviction that the market is mispricing the company's assets.
At the time of this announcement, BMNR was trading at $18.27 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $11B. The 52-week trading range was $12.80 to $71.74. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CryptoProwl.