BMNR Weekly Update
Trading at roughly a 1% discount, BMNR bought back another 1.7 million shares over the past week, bringing total share repurchases since the beginning of July to 20.8 million shares.
BitMine also purchased another 9,926 ETH. The company has now purchased ETH every single week since launching its ETH Treasury Strategy on June 30, 2025.
As of August 16, 2026, BitMine has 5,067,309 ETH staked, making it the largest single ETH staking entity in the world. Annualized staking revenue is now projected at roughly $250 million. That means about 87% of BitMine's 5.82 million ETH holdings are currently staked and generating yield.
They have also added 1 Bitcoin since last weeks update
Thomas "Tom" Lee, Chairman of Bitmine stated - "We are encouraged to see the ETH/BTC ratio at 0.02994 and rising. This ratio has moved above the long-term downtrend in place over the last few years and is a sign, in our view, that markets are beginning to see materialization of tokenization and agentic-AI applications, which should benefit Ethereum. We expect easing financial conditions to be a tailwind for crypto. This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to bitcoin. These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains,"
