Bitmine (BMNR) Stock Rises 9% After Biggest ETH Purchase of 2026

TLDR

• Bitmine now holds 4.6 million ETH tokens, worth roughly $10 billion, plus $1.2 billion in cash
• The company bought 60,999 ETH last week — its biggest single-week purchase of 2026
• Staking operations generate $180 million in annualized revenue, with potential to hit $272 million
• Chairman Tom Lee says crypto is outperforming the S&P 500 by 2,450 basis points since the Iran war began
• BMNR stock was up nearly 9% pre-market on Monday as ETH rebounded 8.4% in 24 hours

Bitmine Immersion Technologies (BMNR) made its largest ETH purchase of the year last week, snapping up 60,999 ether tokens. That brings its total ETH holdings to 4,595,562 tokens, valued at more than $10 billion at current prices.

The purchase cost roughly $140 million and edged out the previous week’s haul of 60,976 ETH. It’s a pattern — Bitmine has been quietly and steadily adding to its position throughout the recent market downturn.

Total crypto and cash holdings now stand at $11.5 billion, against a market cap of $9.34 billion. That means the company is holding more in assets than the market currently says it’s worth.

Ethereum is trading at around $2,185 per token on Coinbase (COIN). Bitmine’s ETH stack now represents 3.81% of the entire ETH supply of 120.7 million tokens.

Despite ramping up its ETH buying, Bitmine kept its cash position steady at $1.2 billion. It also increased its stake in Eightco (ORBS) by $80 million last week.

Bitmine Immersion Technologies, Inc., BMNR

BMNR stock jumped nearly 9% in pre-market trading on Monday after ETH prices rebounded 8.4% over the weekend. The stock trades at $20.54, which is down 87% from its 52-week high of $161, though it has gained 98% over the past year.

Staking Revenue Builds

Of its 4.6 million ETH holdings, Bitmine currently has 3.04 million tokens staked. That’s generating around $180 million in annualized revenue at a seven-day yield of 2.81%.

Once the remaining holdings are locked up for staking, the company estimates that revenue figure could climb to $272 million. Bitmine also plans to launch its MAVAN staking solution in Q1 2026.

His take: rising oil prices are stoking fears of slowing global growth, and when growth concerns rise, investors rotate into growth-oriented assets — including crypto and tech.

Eightco Stake Expands

Bitmine also deepened its ties to Eightco (ORBS), which has been making moves of its own. Eightco acquired a $50 million equity stake in OpenAI and a $25 million stake in Beast Industries.

Bitmine holds an $83 million stake in Eightco and a separate $200 million stake in Beast Industries. Those two positions alone add another layer to an already asset-heavy balance sheet.

Eightco recently secured $125 million in funding commitments, backed by Bitmine, ARK Invest, and Payward with commitments of $75 million, $25 million, and $25 million respectively.

Bitmine also acquired 5,000 ETH directly from the Ethereum Foundation, helping the foundation fund its operations.

Over a five-day period ending Thursday, BMNR averaged $1.0 billion in daily dollar volume, ranking 105th among all U.S.-listed stocks per Fundstrat data.

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