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BMNR Stock Jumps 11% After Bitmine Immersion Acquires Nearly 51,000 ETH Last Week

Sanjeev Kumar | March 3, 2026 2:22 AM CST

Tom Lee said Bitmine is steadily buying Ethereum and noted that the recent pullback is attractive amid stronger fundamentals.

Bitmine added 50,928 ETH in a week, making it one of the largest corporate Ethereum treasuries globally.
Of its total ETH stack, 3,040,483 ETH was staked through Bitmine’s validator network and partners, generating an estimated $172 million in annualized staking revenue.
The company reported $328.16 million in FY2025 GAAP net income and held $868 million in cash, alongside strategic equity investments.

Bitmine Immersion Technologies (BMNR) shares jumped over 11% on Monday, as the Ethereum proxy announced that it had acquired 50,928 Ethereum (ETH) over the past week.

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Bitmine announced that it had increased its total Ethereum holdings to 4,473,587 ETH as part of its ongoing treasury strategy.

On Stockwits, the retail sentiment around BMNR remained ‘neutral’ as chatter levels around it remained ‘low’ over the past day.

BMNR retail sentiment and message volume on March 2 as of 11:31 a.m. ET | Source: Stocktwits

According to the company’s statement, the Las Vegas-based crypto treasury firm held roughly $9.9 billion in total cryptocurrency, cash, and “moonshot” investments.

Its Ethereum position, valued at approximately $1,976 per ETH as of Sunday, represented about 3.71% of the total circulating supply of the token. Of that, 3,040,483 ETH, valued at around $6.0 billion, had been staked.

Staking Revenue And Fiscal 2025 Performance

Bitmine chairman Tom Lee stated that the company continued to steadily accumulate Ethereum, describing the recent pullback as attractive amid strengthening fundamentals.

Bitmine said its annualized staking revenue was about $172 million, based on a 7-day yield of 2.86%. At scale, staking rewards could reach an estimated $253 million annually.

As for Bitmine’s fiscal year 2025 earnings, the company reported GAAP net income of $328.16 million and diluted earnings per share of $13.39, with 24.5 million fully diluted shares outstanding.

Beyond crypto holdings, Bitmine disclosed $868 million in cash and additional strategic stakes, including a $200 million investment in Beast Industries, and a $14 million stake in Eightco Holdings (ORBS). The company has previously outlined a goal of acquiring up to 5% of the total Ethereum supply.

Read also: Strategy Now Holds Near $55 Billion In Bitcoin After Latest BTC Purchase – Company Raises $237 Million Via Share Sale

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