BitMine buys ETH again this week. The company added 7,391 tokens to its treasury.
Total holdings now stand at approximately 5.81 million ETH. This represents about 4.8% of Ethereum’s supply.
Why BitMine buys ETH
The latest acquisition is smaller than last week’s 10,399 ETH purchase. BitMine continues its weekly buying strategy. The company adopted this treasury strategy in June 2025.
BitMine is now 96% toward its 5% ownership target. The balance sheet also includes 206 Bitcoin. It holds cash, marketable securities, and investments. These include Eightco Holdings and Beast Industries.
Combined crypto, cash, and other holdings total $11.6 billion.
Staked ETH generates annual revenue
BitMine has staked 5,067,309 ETH. This represents about 87% of its treasury. The position is valued at approximately $9.8 billion.
Staking operations generated a 7-day annualized yield of 2.63%. BitMine projects approximately $194 million in annual staking rewards.
Staking has become central to company revenue. The company earned $45.7 million from staking in the latest quarter. This accounted for 98% of revenue.
Nevertheless, concentration carries risks. The treasury is exposed to changes in ETH prices. Validator yields and network issuance policy also affect returns.
BitMine repurchases another three million shares
BitMine bought back three million BMNR shares last week. Total repurchases under the $4 billion program reached 19.1 million shares.
Chairman Tom Lee said management views shares as undervalued. He argued that ETH outperforming BTC historically leads to BMNR outperformance.
Lee also commented on the CLARITY Act delay. “We are disappointed the CLARITY Act will not see a Senate vote,” he said. “Financial markets seem more focused on softer inflation and jobs data.”
BMNR stock tests resistance near $18.63
BMNR traded at $18.36 on August 10. It is down 2.44% for the session. The stock opened at $18.75 and reached an intraday high of $18.86.
Sellers pushed the stock back below nearby resistance. BMNR remains above an ascending support line. It also holds above the 20-day SMA at $17.20.
The 50-day average at $16.29 provides deeper support. Nevertheless, BMNR has yet to reclaim its 100-day average at $18.63.
A daily close above $18.63 could open a move toward $20. Failure to hold $17.20 would weaken the recovery. This would expose $16.29.
The broader trend remains under pressure. BMNR trades well below its 200-day average at $24.31. Aroon Up at 92.86% shows recent highs favor buyers. Nevertheless, the rejection near the 100-day average means a sustained breakout is unconfirmed.