The BMNR stock is up today amid Bitmine’s latest Ethereum purchase, with the company acquiring 10,000 ETH from the Ethereum Foundation. This purchase comes in the same week that the Ethereum treasury company announced its largest weekly buy this year, despite sitting on over $6 billion in unrealized losses.
Bitmine Buys 10,000 ETH From Ethereum Foundation, BMNR Stock Up
In an X post, the Ethereum Foundation announced that it had finalized an OTC sale of 10,000 ETH at an average price of $2,387 to Tom Lee’s Bitmine. The Foundation noted that the sale funds their core operations and activities, including “protocol R&D, ecosystem development, community grant funding, and more.”
The BMNR stock has risen following the announcement of this latest Bitmine Ethereum buy. The crypto stock is currently trading at around $22, according to TradingView data. However, the stock is down over 4% over the past five days.
Ethereum Foundation’s 10,000 ETH sale to Bitmine comes just over a month after a similar transaction involving 5,000 ETH at an average price of $2,042. With the latest Ethereum purchase, Bitmine now holds 4,986,485 ETH, which it bought at an average price of around $3,600 per ETH.
As CoinGape reported, Bitmine acquired 101,627 ETH last week, marking its largest weekly buy this year and its largest since the week of December 15, 2025. The company currently holds over 4% of the total ETH supply and is fast approaching its goal of holding 5%. However, the BMNR stock is down 22% year-to-date (YTD) amid the current bear market conditions.
Tom Lee recently said they are seeing signs that the crypto winter may end soon, which could boost BMNR stock. The stock notably mirrors Ethereum’s price action, given Bitmine’s largest exposure to the second-largest crypto by market cap.
Bitmine Stakes More ETH
Bitmine has staked more ETH amid the 10,000 ETH purchase from the Ethereum Foundation. On-chain analytics platform Lookonchain revealed that the company staked 98,352 ETH, worth $229 million.
The Ethereum treasury company has now staked almost 3.5 million ETH, worth $8.35 billion, representing just over 72% of its total holdings. Furthermore, Bitmine has notably launched its crypto staking platform, the Made in America Validator Network (MAVAN). Tom Lee stated that they project to make up to $330 million annually once they stake all their ETH holdings.
However, Bitmine continues to sit on unrealized losses amid the current market conditions, which is also weighing on the BMNR stock. DropsTab data shows that the company has an unrealized loss of around $6.3 billion on its Ethereum holdings, with an average purchase price of $3,648 per ETH.
