BMNR added 9,946 ETH to its 5.79M stash; buybacks hit 6.1M shares in latest week. Staking revenue projected at $299M annually.
Alpha Score of 38 reflects weak overall profile with weak momentum, weak value, poor quality, strong sentiment.
Shares of Bitmine Immersion Technologies (BMNR) rallied 10.08% to $17.38 after the company disclosed an $11.8 billion cryptocurrency treasury, expanded Ethereum holdings, and an accelerated share repurchase program.
The portfolio as of July 26 included 5,787,414 ETH valued at roughly $11.3 billion using a Coinbase reference price of $1,948 per token, plus 208 Bitcoin, $268 million in cash and marketable securities, and $241 million in strategic equity positions. Within the equity bucket, Bitmine held a $180 million stake in Beast Industries and a $61 million stake in Eightco Holdings.
Bitmine's Ethereum position represents about 4.8% of the token's total circulating supply of 120.7 million ETH, the company said. The firm has maintained a schedule of weekly Ethereum purchases since launching its ETH Treasury Strategy on June 30, 2025. In the most recent reporting period it added 9,946 ETH.
The buyback program accelerated sharply. Bitmine repurchased 6.1 million shares of common stock in the latest week, up from 5.5 million the prior week. Cumulative repurchases since July 1, 2026, total 11.6 million shares under the authorized $4 billion program, the company said.
Chairman Tom Lee attributed the faster repurchase pace to favorable cryptocurrency market dynamics and an improving ETH-to-BTC price ratio. Lee also cited Ethereum's recent price momentum and technical breakouts above key resistance levels. He said the systematic weekly Ethereum acquisition strategy would continue uninterrupted regardless of shifting legislative expectations related to the Clarity Act.
On the staking side, Bitmine had deployed 4,917,189 ETH through its institutional-grade MAVAN platform as of July 26, with an estimated value of about $9.6 billion. That staked position accounts for roughly 85% of the company's total Ethereum inventory, generating projected annualized staking revenues of about $254 million, the company said.
Bitmine launched the MAVAN platform earlier in 2026 for institutional-grade Ethereum staking. It initially serviced the company's own treasury before opening to custodians and institutional clients. Management anticipates the platform will support increased staking volume as more Ethereum flows onto the network. Company projections show annualized staking rewards could reach roughly $299 million once the entire Ethereum treasury is fully staked, using a reported seven-day staking yield of 2.65%.
Bitmine positions itself as the world's largest Ethereum treasury holder and the second-largest publicly traded digital asset treasury behind Strategy Inc. Average daily trading volume over the most recent five-day period was about $597 million, the company said. Management is monitoring the GENIUS Act and the Securities and Exchange Commission's Project Crypto as potential catalysts that could reshape digital financial infrastructure, according to company statements.
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