BMNR week of Sept 28 2026
“We believe a crypto bull market is underway, having started in late June, driven by a multitude of factors including the rotation from AI back to crypto, strengthening crypto fundamentals centered around both tokenization and AI and lastly, the ending of the 4-year cycle.” — Thomas “Tom” Lee, Chairman of BitMine.
BitMine has purchased another 17,362 ETH over the past week. The company has now purchased Ethereum every week since transitioning to an Ethereum treasury strategy on June 30, 2025.
As of September 27, 2026, BitMine has approximately 6.0 million ETH, with 5,067,309 ETH currently staked. That means roughly 84% of its Ethereum holdings are now generating staking rewards.
BitMine’s own staking operations generated a 7-day annualized yield of 2.62%. Based on its current amount of staked ETH, the company estimates annualized staking revenue of approximately $358 million.
BitMine has approached its original accumulation target. The company had initially expected it could take as long as five years to reach its goal of owning approximately 5% of the Ethereum supply. “We're only 1.2 years into it, but I think we're pretty close to reaching that 5% target now,” Lee said.
They added another Bitcoin and their cash holdings decreased from the previous week going from $714 million to $672 million.
Currently down in the pre market at $27.20 and trading at about a 2.7% discount to mNAV to start the week. ETH is down almost 1% over the past 24 hours it will be interesting to see where the week takes us.
