Bitmine expanded its Ethereum stash by acquiring 9,946 ETH last week, pushing its total to an impressive 5.79 million ETH, currently valued at $11.2 billion. This purchase marked a rise from the previous week's 7,430 ETH buy and continued the firm’s weekly accumulation strategy initiated in June 2025.
The firm now controls about 4.8% of Ethereum’s circulating supply, inching closer to its 5% target. Around 85% of Bitmine’s ETH holdings, equating to 4.92 million tokens, are staked, securing roughly $9.6 billion in value.
Following the news, Bitmine’s stock (BMNR) surged over 5%, trading near $16. Chairman Tom Lee highlighted the ETH/BTC ratio hitting a three-month peak at 0.3000 as a bullish indicator, reinforcing the company’s aggressive buying and escalating share repurchases. Lee noted Ethereum’s recent 10-week price high and pointed to $2,000 and $2,500 as critical upcoming resistance levels.
Bitmine also increased its share buyback program last week, repurchasing 6.1 million shares, up from 5.5 million the previous week. This is part of a $4 billion repurchase authorization, with 11.6 million shares bought back so far, signaling strong confidence in market conditions.
Ethereum’s price rally, up about 24% over the last month, outpaced Bitcoin’s 8% gain, further validating Bitmine’s bold treasury moves.
