Bitmine Acquires $75 Million in Ethereum as Crypto Market Shows Recovery Signs
Bitmine Immersion Technologies (NYSE: BMNR) has purchased an additional $75.2 million worth of Ethereum, bringing its total holdings to approximately 4.9% of the circulating ETH supply. The company acquired 27,562 ETH over the past week and now holds around 5.98 million ETH, with about five million staked for annualized revenue projections of $357 million at current yields. Ethereum's price has risen more than 30% since late August to reach $2,735 on September 21, outperforming traditional stock indices. Bitmine Chairman Tom Lee highlighted that institutional exposure remains low despite the recent rally in crypto prices. Analysts are increasingly suggesting that a 'crypto winter' beginning in October 2025 may be ending. Despite positive developments in its Ethereum holdings and staking revenue outlook, BMNR's stock has fallen by over 53% in the past year to $25.99 per share.
Tickers: $BMNR
Topics: Bitmine Crypto Winter Ethereum Institutional Investment