BitMine adds another 7,391 ETH as BMNR tests key resistance

cryptonews08-10 23:19

BitMine added 7,391 ETH and repurchased three million shares last week, but BMNR stock fell as its recovery ran into resistance near $18.63. Summary BitMine’s holdings reached 5.81 million ETH, ...

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The position represents about 4.8% of Ethereum’s total supply and puts the company 96% of the way toward its goal of owning 5%.The latest acquisition was smaller than the 10,399 ETH purchased during the previous week. crypto.news reported that the earlier transaction lifted BitMine’s treasury to 5.8 million ETH while the company continued buying back its own shares.Staking has become central to the company’s revenue rather than serving only as an additional return on its treasury. A previous crypt","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BMNR":"BitMine Immersion Technologies Inc.","ESK":"REX-Osprey ETH + Staking ETF","YBMN":"Defiance BMNR Option Income ETF","BMNZ":"Defiance Daily Target 2X Short BMNR ETF","BMNG":"2倍做多BMNR ETF-Leverage Shares","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","BK4601":"加密货币现货ETF","ETH":"低成本以太坊ETF-Grayscale","BKCH":"AdvisorShares Sabretooth ETF","SETH":"1倍做空以太币期货ETF-Proshares","BMNU":"2倍做多BMNR ETF-T-REX","TETH":"21Shares Ethereum ETF","BK4023":"应用软件","BK4147":"半导体设备","ETCO":"Grayscale Ethereum Covered Call ETF"},"translate_title":"BMNR 测试关键阻力，BitMine 又增加了 7,391 ETH","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SETH":0.6,"ETH":1.94,"BMNR":1.98,"BMNU":0.6,"ESK":0.6,"BMNG":0.6,"YBMN":0.6,"ETHI":0.6,"ETQ":0.6,"BKCH":0.75,"ETCO":0.6,"TETH":0.6,"BMNZ":0.6},"content_text":"BitMine added 7,391 ETH and repurchased three million shares last week, but BMNR stock fell as its recovery ran into resistance near $18.63.\n\n\nSummary\n\n\n\nBitMine’s holdings reached 5.81 million ETH, equal to roughly 4.8% of the supply.\nThe company has staked 5.07 million ETH, projecting $194 million in annual rewards.\nBitMine repurchased three million BMNR shares, taking total buybacks to 19.1 million.\nBMNR fell 2.44% to $18.36, remaining below its 100-day and 200-day averages.\n\n\n\nBitMine moves closer to its 5% Ethereum target\nBitMine Immersion Technologies acquired another 7,391 Ethereum (ETH) over the past week, extending a run of weekly purchases that began after the company adopted its treasury strategy in June 2025.\nAccording to an Aug. 10 company update, BitMine now holds approximately 5.81 million ETH. The position represents about 4.8% of Ethereum’s total supply and puts the company 96% of the way toward its goal of owning 5%.\nThe balance sheet also includes 206 Bitcoin, cash, marketable securities and investments in Eightco Holdings and Beast Industries. BitMine valued its combined crypto, cash and other holdings at approximately $11.6 billion.\nThe latest acquisition was smaller than the 10,399 ETH purchased during the previous week. crypto.news reported that the earlier transaction lifted BitMine’s treasury to 5.8 million ETH while the company continued buying back its own shares.\nStaked ETH could generate $194 million annually\nBitMine has placed 5,067,309 ETH into staking, representing about 87% of its Ethereum treasury. The company valued that position at approximately $9.8 billion based on recent market prices.\nIts staking operations generated a seven-day annualized yield of 2.63%. BitMine projects approximately $194 million in annual staking rewards if that rate holds.\nStaking has become central to the company’s revenue rather than serving only as an additional return on its treasury. A previous crypto.news report found that BitMine earned $45.7 million from staking and validation during its latest reported quarter, accounting for 98% of revenue.\nThe concentration also carries longer-term risks. BitMine’s position removes a large amount of ETH from the liquid market, but its scale leaves the treasury exposed to changes in Ethereum prices, validator yields and network issuance policy.\nBitMine repurchases another three million shares\nBitMine also bought back three million BMNR shares last week. Total repurchases under its $4 billion authorization have now reached 19.1 million shares since the program began in July.\nChairman Tom Lee said management continues to view the shares as undervalued. He argued that periods of ETH outperforming Bitcoin have historically been followed by BMNR outperforming ETH during the next month.\n\n“We are disappointed that the CLARITY Act will not see a Senate vote before the August recess, but financial markets seem more focused on the recent softer inflation and jobs data.”\n\nLee added that lower expectations for another Federal Reserve rate increase could ease financial conditions and support crypto assets. The comments followed a weak July employment report that reduced concerns over an immediate rate hike.\nBMNR stock tests resistance near $18.63\nBMNR traded at $18.36 when the chart was captured on Aug. 10, down 2.44% for the session after opening at $18.75. The stock reached an intraday high of $18.86 before sellers pushed it back below nearby resistance.\nBMNR price daily chart | Source: TradingView\nBMNR price remains above an ascending support line and the 20-day simple moving average at $17.20. The 50-day average at $16.29 provides a deeper support level if the recovery loses momentum.\nHowever, BMNR has yet to reclaim its 100-day average at $18.63. A daily close above that level could open a move toward $20, while failure to hold $17.20 would weaken the short-term recovery and expose $16.29.\nThe broader trend remains under pressure because BMNR trades well below its 200-day average at $24.31. Aroon Up at 92.86% shows that recent highs still favor buyers, but the rejection near the 100-day average means a sustained breakout has not yet been confirmed.\n\n\n\n\n\n                Read more:\n            \nSolana price breaks 5-week downtrend, is $83 next?","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2658093775","isCrawlerRequest":true}