BMNR Stock Surges Over 8% as Tom Lee’s BitMine Acquires 60,999 ETH

The BMNR stock surged in premarket trading today, after Bitmine disclosed new Ethereum purchases and expanded treasury holdings. Bitmine said it now holds 3,040,515 staked Ethereum valued at $6.6 billion at $2,185 per token. The company also confirmed $11.5 billion in combined crypto, cash, and “moonshot” assets while advancing its MAVAN validator network toward a 2026 launch.

Bitmine Makes Another ETH Buy, BMNR Stock Rises

In a press release, Bitmine confirmed it acquired 60,999 Ethereum during the past week. The purchase exceeded its recent weekly average of 45,000 to 50,000 ETH. As a result, the company’s Ethereum treasury climbed to 4,595,562 ETH valued at about $2,185 per token.

According to Tom Lee, Bitmine slightly increased the pace of purchases over the last two weeks. He said the firm expects the ETH price to approach the final stages of the recent “mini-crypto winter.” As a result, the company continued adding to its holdings during recent price movements.

Bitmine disclosed that its Ethereum stash now represents about 3.81% of the total 120.7 million token supply. The company described this level as more than 76% toward its internal “Alchemy of 5%” accumulation target. Meanwhile, the treasury also includes 196 Bitcoin alongside its Ethereum reserves.

In addition, the company reported $1.2 billion in total cash holdings. Combined with crypto assets and equity investments, Bitmine’s total holdings now stand at $11.5 billion. These figures include the firm’s various “moonshot” investments disclosed in the latest update.

Following the announcement, BMNR stock surged in premarket trading activity. BMNR stock is one of the trending crypto stocks to watch this week, as these purchases, in addition to Ethereum price movement, influence the BMNR stock price movement.

Source: Yahoo Finance

At press time, BMNR stock traded at $22.37. This is an 8.91% increase, or $1.83 higher today. BMNR stock also climbed about 6.45% over the past five days. The previous closing price is at $20.54.

BMNR stock has a yearly range between $3.20 and $161.00. Meanwhile, the market cap is at $9.34 billion. Average trading volume reached approximately 45.12 million shares, indicating strong trading activity around BMNR stock.

Bitmine Moonshot Investments

Alongside crypto accumulation, Bitmine expanded its investment in Eightco Holdings. The company added $80 million to its position in Eightco, raising the stake to about $83 million. According to the company statement, Eightco later purchased a $50 million equity stake in OpenAI and another $25 million stake in Beast Industries.

Bitmine said this move allows public investors to gain exposure to OpenAI through Eightco. The company added that Eightco also secured Cathie Wood and her firm ARK Invest as strategic advisors.

Additionally, as CoinGape reported, Bitmine purchased 5,000 ETH from the Ethereum Foundation. Lee said the transaction enabled the foundation to fund operations without selling tokens on the open market.

Meanwhile, Bitmine continues expanding its staking infrastructure. The company reported 3,040,515 ETH staked across its validator systems and partners. Lee said this amount represents about 66% of Bitmine’s total Ethereum holdings.

Annualized staking revenue is at $180 million. However, projected rewards could reach $272 million annually once the system operates at full scale. The estimate uses a seven-day BMNR yield of 2.81%.

The Composite Ethereum Staking Rate administered by Quatrefoil is currently at 2.79%. Bitmine’s own operations generated a slightly higher 2.81% annualized seven-day yield. The company continues building its Made in America Validator Network, or MAVAN, with three staking partners.

Within the broader crypto treasury, Bitmine is the largest Ethereum treasury holder. However, it ranks second globally behind Strategy, which made its largest Bitcoin purchase this year, last week. The company acquired 22,337 BTC for $1.57 billion at an average price of $70,194 per Bitcoin.