- BitMine Immersion Technologies purchased 15,112 ETH last week, its smallest weekly buy since mid-August, taking its total holdings to 6.02 million tokens.
- Chairman Tom Lee stated the company executed the largest crypto treasury equity buyback in its history during July 2026.
- The firm has staked 5.07 million ETH and projects $363 million in annual staking revenue.
BitMine Immersion Technologies (BMNR) stock edged higher Monday morning alongside an uptick in Ethereum’s price after the firm reported its sixth-smallest Ethereum purchase on record. Chairman Tom Lee stated that the crypto bull market was underway and this cycle would likely be the biggest yet.
The company bought 15,112 ETH over the past week, worth about $41 million at $2,726 per token. That purchase brought its total holdings to 6.02 million tokens, or 4.9% of Ethereum’s supply, edging closer to the 5% target the firm calls its “alchemy.”
It was the fourth consecutive week that buying slowed and the first time since mid-August that a weekly purchase had been this small. BMNR stock was up over 2% during midday trading, though retail sentiment on Stocktwits remained in the ‘bearish’ zone.
Lee framed the week around consistency rather than size, stating, “BitMine’s track record of consistent buying of crypto is unmatched by any public company in the world.” The company has bought ETH every week since beginning the strategy on June 30, 2025.
Lee said BitMine carried out the largest crypto treasury equity buyback in July this year, acquiring 21 million of its own shares. He argued that Ethereum fell 10% over the first nine months of 2026 while BMNR fell only 3%, attributing 731 basis points of outperformance to the buyback.
Cash and marketable securities fell to $643 million from $672 million a week earlier. Total crypto, cash, and other holdings reached $17.4 billion, though most gains came from ethereum’s price rather than fresh buying.
BitMine has staked 5.07 million ETH, unchanged this week, and projects annualized staking revenue of $363 million. Meanwhile, Ethereum’s price was trading at $2,701, with retail sentiment moving to the ‘neutral’ to ‘bullish’ zone on Stocktwits.
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