BitMine Immersion Technologies (BMNR) just doubled its stake in Ethereum, fueling bullish price predictions.
The publicly traded Treasury added 50,928 ETH last week, spending around $103 million. The move triggered a 9% rally in BMNR shares and aligned with a strong rebound in Ethereum’s spot price.
With this purchase, BitMine now holds 4,473,587 ETH, or approximately 3.71% of the total circulating supply. This is not passive exposure. This is an aggressive accumulation strategy, even in still fragile market conditions.
- BitMine added 50,928 ETH to its balance sheet, bringing total holdings to approximately $9 billion.
- BMNR shares jumped more than 9% after the disclosure, outperforming broader market indexes.
- The company is now banking over 3 million ETH, projecting annualized revenues estimated at $172 million.
BitMine continues “5% alchemy” despite paper losses
BitMine’s latest purchase is part of a larger mission. The company wants to control 5% of Ethereum’s total supply, which Chairman Tom Lee calls “the alchemy of 5%.”
Lee framed the recent decline as an opportunity, arguing that ETH’s fundamentals are stronger than the price suggests. Even with about $7.7 billion in unrealized losses on paper, executives aren’t backing down. They view Ethereum as basic financial infrastructure, not just a speculative asset.
The difference is strategy. BitMine doesn’t just hold ETH. It’s an aggressive bet. The company claims to have invested more ETH than any other entity and expects an annual return of over $253 million once its Made in America validation network is fully operational in 2026.
This active return model sets it apart from passive cash games. This turns ETH into a productive asset on the balance sheet rather than sitting in idle reserves.
This push reflects broader institutional shifts toward crypto infrastructure. While the retail sector remains cautious, companies are building quietly.
For traders, $2,100 is the key level. If Ethereum recovers it and BitMine continues to buy weekly, this consistent demand could serve as a structural floor heading into the next cycle.
BMNR Stock Breaks Out as ETH Holds $2,000
The market reacted quickly.
BitMine (NYSE: BMNR) shares jumped more than 9% after the disclosure, as investors weighed in on the company’s greater exposure to a potential Ethereum rebound. At the same time, ETH rebounded to around $2,037, trying to stabilize after a monthly decline of around 22%.
Traders view buying Treasuries as a high-conviction signal. Volume increased on both the stock and ETH, tightening the correlation between BMNR and spot prices.
At this point, BMNR is effectively trading as a leveraged proxy for Ethereum. When ETH moves, the stock is likely to amplify this movement in either direction.
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The post Ethereum Price, BitMine Stock Jump 10% After Latest Treasury Buy appeared first on Cryptonews.
