Bitmine Buys Another 7,391 Ethereum And Increases Staked Position

Bitmine Immersion Technologies added 7,391 Ethereum over the past week and kept increasing its staking position, reinforcing its long-running Ethereum treasury strategy. The company said 87% of its ETH holdings are now staked, totaling 5,067,309 ETH worth about $9.8 billion at current prices. Bitmine estimates staking rewards of $194 million annually, implying a 2.63% yield. The company now owns 4.8% of Ethereum’s circulating supply and says it is 96% of the way toward its target of controlling 5% of available ETH. It also repurchased 3 million shares last week and has bought back 19.1 million shares under its $4 billion program. The move underscores continued institutional-style accumulation of ETH even as BMNR stock remains under pressure, with shares down 69% over 12 months to $18.38.