The news signals continued aggressive crypto accumulation and supports bullish sentiment around Bitmine’s strategy, but it is not an earnings/official guidance event and relies on crypto price dynamics, limiting short-term trading impact.
Bitmine Accelerates Ethereum Purchases To Close Out August Editorial Staff Mon, August 31, 2026 at 4:28 PM GMT+2 2 min read BMNR ETH-USD ETH Bitmine Accelerates Ethereum Purchases To Close Out August Bitmine Immersion Technologies (NYSE: $BMNR) accelerated its Ethereum (CRYPTO: $ETH) purchases during the final week of August. The serial cryptocurrency acquirer led by Chairman Tom Lee bought 53,501 Ethereum over the past week at a cost of $131. 3 million U.
S. It was Bitmine's largest weekly purchase of Ethereum since June of this year. The company now owns 5,901,112 ETH valued at $14.
50 billion U. S. based on the crypto's current price.
More From Cryptoprowl: Goldman Sachs Reiterates Buy Ratings On Coinbase And Robinhood Coinbase Debuts Tokenized Stocks On Base Network JPMorgan Eases SpaceX Lending Rules to Capture AI Wealth MEXC Launches SHEIN Subscription with $1M Quota as Inaugural IPO Express Event MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster The accelerated purchases mark a shift from earlier this summer when Bitmine slowed its accumulation as it approached its self-imposed goal of owning 5% of Ethereum's supply. Bitmine's weekly purchases fell below 10,000 ETH several times in July and August. The company said it now owns 4.
9% of Ethereum's 120. 7 million circulating supply. Bitmine is currently 134,000 ETH tokens short of its 5% goal.
The latest buying comes with Ethereum's price having risen 55% in August, outperforming U. S. stocks for the first time in months.
Bitmine has staked 5. 07 million Ethereum, equal to 86% of its holdings. It expects to earn $335 million U.
S. in annualized staking revenue moving forward. Staking is the process of locking up digital assets on a blockchain network to help verify transactions and secure the network in exchange for earning rewards such as cash or crypto.
Analysts liken staking to earning interest on a bank savings account. Ethereum is trading at $2,450 U. S.
on Aug. 31. BMNR stock has declined 44% over the past 12 months to trade at $23.
80 U. S. per share.
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