BitMine Immersion Technologies expanded its Ethereum treasury and accelerated its share buyback last week, while BMNR stock jumped nearly 11% on Monday as ETH regained $1,900.
Summary
- BitMine received 9,946 ETHraising its total value to 5.79 million ETH.
- The company is now in control 4.8% of the total value of Ethereumapproaching its 5% limit.
- BitMine has been repurchased 6.1 million shares of BMNRbringing the total purchased to 11.6 million.
- BMNR gained 10.89% to $17.51but it still faces resistance near its 100-day moving average.
BitMine adds 9,946 ETH to its treasury
BitMine disclosed Monday that it bought 9,946 ETH during the past week, extending a weekly buying streak that began in early 2026.
The latest purchase increased the company’s holdings to 5,787,414 ETH, which is equivalent to about 4.8% of the total amount of Ethereum. That puts BitMine closer to its stated goal of owning 5% of all ETH in circulation.
The purchase also marked an increase from last week, when the company received 7,430 ETH. BitMine’s latest addition came as Ethereum recovered above $1,900 and reached its highest value in ten weeks.
Most of the company’s ETH generates huge rewards. BitMine has placed 4,917,189 ETH, which is worth about $9.6 billion and represents about 85% of its total Ethereum.
Staking allows BitMine to earn network rewards from its treasury assets, although the strategy also leaves its valuation highly exposed to changes in the value of ETH.
Share repurchases increase as the ETH/BTC ratio strengthens
BitMine repurchased 6.1 million of its shares last week, up from 5.5 million shares repurchased during the previous week.
The latest transaction brought cumulative purchases under its $4 billion share repurchase program to 11.6 million shares. Chairman Tom Lee attributed the large return to recent improvements in the ETH-to-Bitcoin ratio, which measures the relative performance of Ethereum against BTC.
“In fact, this ratio is now at a 3-month high of 0.3000, which we believe bodes well for the future strengthening of ETH prices.”
Lee added that the next price levels for Ethereum could be $2,000 and $2,500, citing targets identified by technical experts. He also referred to BitMine consultant Tom DeMark, who sees those levels as near-term targets if Ethereum continues to follow its post-October 1987 comparison with the S&P 500.
Those forecasts are always dependent on Ethereum to maintain its supply. The renewed crypto market downturn will affect both the value of the BitMine fund and investor demand for BMNR.
BMNR stock resists scrutiny after 10.89% gain.
BMNR closed at $17.51 on July 27, gaining 10.89% during the session after trading between $16.67 and $18.02, according to TradingView’s daily chart.
The stock remains above the rising support line taken since late June. It also closed above the 20-day moving average at $15.49 and the 50-day moving average at $16.59, indicating a short-term structural improvement.
However, BMNR remains below its 100-day moving average at $18.95. A further move above that level would strengthen the recovery and expose the $20 area, while the 200-day average remains very high at $26.13.
The average directional indicator stands at 17.22. An ADX reading below 20 suggests that the rally has not yet developed into a definite directional trend, leaving the stock vulnerable to further consolidation.
What the move means for US investors
BitMine offers US equity investors indirect exposure to Ethereum through publicly traded stock, but BMNR also has company-specific risks that direct ETH holders don’t face. Its performance depends on Ethereum prices, staking revenue, financial management, and the impact of share buybacks on its capital structure.
Institutional interest has also increased. As crypto.news reported last week, Cathie Wood’s ARK Invest bought 5,264 BMNR shares through its flagship ARK Innovation ETF. ARK allocated approximately $251,500 to all BitMine shares and the 3iQ Solana Staking ETF in three funds.
The next key milestones for BitMine are reaching the 5% ETH supply limit and clearing the technical resistance level of $18.95. Progress on both fronts could determine whether BMNR extends a pullback or returns to its recent trading range.
