Bitmine's ETH Treasury Hits $11B, Nears 5% Supply Target
BMNR sits 44% above its 52-week low of $12.8 on light trading volume (0.2× avg).
Summary
Bitmine added 9,926 ETH over the past week, bringing total holdings to 5,815,164 ETH worth roughly $11 billion. The company now holds 4.8% of Ethereum's circulating supply and is 96% of the way to its stated 5% target. Over 5 million ETH ($9.6B) is staked, generating projected annualized staking revenue of $250 million. The company also repurchased 1.7 million shares this week, bringing total buybacks since July 1 to 20.8 million shares under its $4 billion program. This follows a series of weekly 8-K updates showing steady accumulation; the new figures mark a continued upward trend in both treasury size and shareholder returns.
At the time of this announcement, BMNR was trading at $18.49 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $11.2B. The 52-week trading range was $12.80 to $65.60. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: The Block.