BitMine Immersion Technologies continued its aggressive Ethereum buying strategy last week, adding nearly 10,000 ETH to its treasury while increasing its stock repurchase program. The latest moves helped fuel investor optimism, sending BMNR stock up almost 11% as Ethereum climbed back above the $1,900 mark.
The company is now approaching one of its biggest milestones yet owning 5% of Ethereum’s total circulating supply—making it one of the largest corporate holders of ETH. At the same time, BitMine is using share buybacks to boost shareholder value as it doubles down on its Ethereum-focused strategy.
BitMine adds another 9,946 ETH
BitMine announced that it purchased 9,946 ETH during the previous week, extending a buying streak that has continued throughout 2026.
Following the latest acquisition, the company’s Ethereum treasury has grown to 5,787,414 ETH, representing approximately 4.8% of Ethereum’s total supply.
The purchase exceeded the previous week’s acquisition of 7,430 ETH, reflecting BitMine’s continued confidence as Ethereum recovered to its highest price in nearly ten weeks.
With only a small gap remaining before reaching its goal, BitMine is closing in on controlling 5% of all ETH currently in circulation.
Most of its Ethereum is generating staking rewards
BitMine isn’t simply holding its Ethereum—it is actively putting most of its treasury to work.
The company has staked approximately 4.92 million ETH, valued at roughly $9.6 billion, which accounts for about 85% of its total Ethereum holdings.
By staking its assets, BitMine earns additional rewards from the Ethereum network while continuing to benefit from any appreciation in ETH’s price.
However, the strategy also means the company’s valuation remains closely tied to Ethereum’s market performance.
Share buybacks continue to accelerate
Alongside expanding its crypto treasury, BitMine has also stepped up its stock repurchase program.
The company bought back 6.1 million BMNR shares during the latest week, compared with 5.5 million shares the week before.
That brings total repurchases under its $4 billion share buyback program to 11.6 million shares.
Chairman Tom Lee said the larger repurchases reflect growing confidence in Ethereum’s improving performance relative to Bitcoin.
According to Lee, the ETH/BTC ratio has reached its highest level in three months, which the company believes could support further gains for Ethereum.
Ethereum recovery boosts investor confidence
Lee also suggested Ethereum could continue moving higher if current market conditions remain favorable.
He highlighted $2,000 and $2,500 as important price levels being watched by technical analysts.
While these targets are not guarantees, improving momentum in Ethereum has strengthened investor sentiment toward companies with large ETH holdings, including BitMine.
If Ethereum’s recovery continues, BitMine’s growing treasury could become even more valuable.
BMNR stock posts double-digit gains
BitMine shares responded positively to the company’s latest announcement.
BMNR stock closed at $17.51, rising 10.89% during Monday’s trading session after reaching an intraday high of $18.02.
The stock has now moved above both its:
- 20-day moving average
- 50-day moving average
These signals suggest improving short-term momentum.
However, BMNR still faces an important resistance level near its 100-day moving average at $18.95.
A sustained move above that level could open the door for another test of the $20 price area.
Trend strength remains moderate
Despite the recent rally, technical indicators suggest the recovery is still developing.
BitMine’s Average Directional Index (ADX) currently sits below 20, indicating that while momentum has improved, a strong long-term trend has not yet been confirmed.
This leaves the stock vulnerable to periods of consolidation if buying pressure begins to slow.
Growing institutional interest
Institutional investors have also started increasing their exposure to BitMine.
Recently, ARK Invest, led by Cathie Wood, purchased more than 5,200 BMNR shares through its flagship innovation ETF.
The investment reflects growing interest in publicly traded companies that provide indirect exposure to Ethereum without requiring investors to purchase the cryptocurrency directly.
Outlook
BitMine continues to strengthen its position as one of the largest corporate Ethereum holders, combining steady ETH accumulation with an aggressive share buyback strategy.
The company is now approaching its ambitious goal of controlling 5% of Ethereum’s circulating supply, while rising Ethereum prices continue supporting investor sentiment.
In the near term, market participants will be watching two key milestones: whether BitMine reaches its 5% ownership target and whether BMNR stock can successfully break above its $18.95 resistance level. Achieving either could provide fresh momentum for both the company and its shareholders.
