What to know:
- BitMine buys 10,399 ETH, lifting its holdings to 5.8 million tokens, or 4.8% of supply.
- Ethereum staking reaches 4.9 million ETH, with annual rewards projected at $247 million.
- BMNR rises 0.38% as BitMine extends its share buyback streak to a third straight week.
BitMine Immersion Technologies purchased 10,399 ETH during the week ended Aug. 2, increasing its holdings to 5,797,813 ETH. The company said the position represents 4.8% of Ethereum’s 120.7 million-token supply. It also repurchased 4.5 million shares under its existing $4 billion buyback program.
The Ethereum treasury firm said the latest purchase continued its weekly accumulation strategy. Bitmine adopted the approach last year and bought 9,946 ETH in the previous week. Its holdings increased despite the wider downturn across cryptocurrency markets and paper losses linked to the strategy.
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How BitMine Earns From ETH Staking
According to DropsTab, BMNR could have unrealized losses of roughly $8.8 billion from its Ethereum portfolio. The loss is associated with paper losses from the firm’s large digital asset portfolio. The extent of the loss may vary depending on the movement of the market value of ETH.
Chairman Tom Lee repeated his positive outlook for the second-largest cryptocurrency by market value. In July, he claimed that Ethereum beat the Nasdaq 100 in returns by 25%. He explained the performance of Ethereum in the discussion of the company’s treasury strategy.
Tom Lee further pointed out the earlier increase in the price of ETH climbed from $2,375 in July 2025 to $4,057 by the end of the following month. However, the historical increase does not mean a repeat performance from Ethereum or BMNR.
The firm has been continuously staking a big part of its ETH reserves. According to Bitmine, there were 4,917,189 staked ETH with a value of roughly $9.2 billion. It estimated annualized staking rewards at $247 million.
The staking allows the company to generate ETH-denominated rewards while holding Ethereum in its balance sheet.
The staking rewards may vary depending on staking yields and validators’ performance. The variation in the market value of Ethereum can influence the dollar-denominated rewards.
BitMine Expands Its Share Buyback Program
The treasury strategy gives US investors stock-market exposure to Ethereum without direct token custody. However, BMNR shareholders face several risks beyond movements in the cryptocurrency’s price.
These include the company’s cost basis, possible dilution from capital raises, financing choices, and operational issues connected with staking.
BMNR also differs from a spot Ethereum exchange-traded fund. An ETF mainly tracks the underlying asset, while the stock includes corporate management and capital allocation exposure. The company’s financing decisions can therefore influence shareholder returns separately from ETH.
Why BMNR Shares Rose After BitMine’s Latest Moves
Moreover, Lee talked about the past correlation between Ethereum, QQQ, and BMNR shares. According to him, if ETH had outperformed QQQ on a monthly basis, then BMNR would outperform Ethereum the following month.
Lee’s statement was based on the past monthly performance from the time when Bitmine changed its approach towards Ethereum.
BMNR shares have increased after Bitmine’s latest Ethereum purchase and share-buyback announcement. At the time of writing, the stock is trading at $17.34 with an increase of 0.38%, according to Yahoo Finance data.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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