BMNR
ORBS
Another week, another Ethereum shopping spree
Bitmine Immersion Technologies is back at it, scooping up 101,627 ETH in the past week. That lifts its total Ethereum holdings to 4.976 million ETH, which the company says is worth about $11.45 billion. At this point, Bitmine doesn’t just like Ethereum — it’s practically building a shrine to it.
The stash keeps getting more ambitious
The company now owns 4.12% of Ethereum’s total supply, putting it 82% of the way toward its stated goal of owning 5% of all ETH. Chairman Tom Lee says the “mini-crypto winter” is fading, helped by easing U.S.-Iran war tail risks and a rebound in ETH. In other words: when the macro clouds thin out, Bitmine keeps reaching for the buy button.
Why investors should care
This is not just a crypto-treasury flex. Bitmine says it has staked 3,334,637 ETH, with annualized staking revenue running at $221 million and a theoretical $330 million annual reward if the full stack gets staked at current yields. That turns the company into a kind of Ethereum yield machine — which sounds cool until you remember it also means the stock is heavily tied to one asset’s mood swings.
The chart says, “hold my beer”
Meanwhile, BMNR is testing a breakout near $23 after months of grinding around in a descending channel. Tight Bollinger Bands and a curling MACD suggest traders are paying attention, but the next move still depends on whether ETH keeps flexing or decides to take a nap.
Big picture: Bitmine is leaning harder into the “Ethereum treasury company” identity, and that can make the stock rocket when crypto cooperates — or wobble like a shopping cart wheel when it doesn’t.