Bitmine (BMNR) Stock: Company Buys 53,501 ETH in Largest Weekly Purchase Since June

TLDR

• Bitmine now holds 5,901,112 ETH worth roughly $14.5 billion, equal to 4.9% of Ethereum’s total supply.
• The company bought 53,501 ETH last week, worth around $131 million, its largest weekly purchase since June.
• Over 5 million ETH (86% of holdings) is staked through its MAVAN platform, generating a projected $335 million in annualized staking revenue.
• Ether rallied 55% in August, with Chairman Tom Lee pointing to the strong Q3 as a catalyst for more institutional crypto buying.
• A potential CLARITY Act vote in mid-September and renewed demand from Korean investors are flagged as upcoming catalysts.

Bitmine Immersion Technologies (BMNR) added 53,501 ETH last week, worth approximately $131.3 million at current prices, ramping up its buying for the second straight week after a quieter summer pace.

Bitmine Immersion Technologies, Inc., BMNR

Total ETH holdings now stand at 5,901,112 tokens. At $2,511 per token based on Coinbase pricing, that puts the stash at roughly $14.5 billion. The company also holds 211 Bitcoin, a $180 million stake in Beast Industries, an $81 million stake in Eightco Holdings (ORBS), and $541 million in cash and marketable securities. Total holdings were reported at $15.6 billion as of August 30, 2026.

BitMine Adds 53,501 ETH as Holdings Reach 5.90M ETH

BitMine said it acquired 53,501 ETH over the past week, bringing total holdings to 5,901,112 ETH, or about 4.9% of Ethereum’s supply. The company has staked 5,067,309 ETH, roughly 86% of its holdings, with projected annualized… pic.twitter.com/LN80Wu7wLi

— Wu Blockchain (@WuBlockchain) August 31, 2026

This latest weekly purchase follows a 32,447 ETH buy the previous week. It marks a clear pick-up in pace from earlier this summer, when weekly acquisitions dropped below 10,000 ETH several times in July and August as the company approached its self-imposed 5% supply target.

Bitmine now owns roughly 4.9% of Ethereum’s 120.7 million token supply. The 5% milestone sits at approximately 6.04 million ETH, leaving the company around 134,000 tokens short.

The company launched its ETH Treasury Strategy on June 30, 2025, and has purchased ETH for 65 consecutive weeks since then.

Staking Revenue in Focus

Of the 5.9 million ETH held, 5,067,309 tokens (86%) are actively staked through Bitmine’s MAVAN (Made in America Validator Network) platform. At current prices, that staked position is valued at $12.7 billion.

The 7-day annualized staking yield sits at 2.63%, with projected annualized staking revenues of $335 million. That staking income stream is becoming a meaningful part of the company’s overall picture.

Tom Lee on Q3 and What Comes Next

Chairman Tom Lee credited crypto’s strong third-quarter performance as a potential pull for institutional money. Ether is up 55% in August alone, while Bitcoin has gained 34%, both well ahead of U.S. stock indexes.

“We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in 3Q so far,” Lee said.

Lee also flagged a potential U.S. CLARITY Act vote scheduled for mid-September and fresh demand from Korean investors as near-term catalysts.

On a longer horizon, he pointed to tokenization growth and the use of blockchains by AI agents as structural tailwinds for Ethereum.

Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026. Its stock traded an average daily dollar volume of $1.36 billion over the five-day period ending August 29, 2026, ranking 62nd among 5,704 U.S.-listed stocks according to data cited from Fundstrat.

BMNR was down 7.14% on the day, while ETH/USD was off 1.19% at the time of reporting.

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