BitMine Weekly Report: Once again, BitMine buys more ETH
This week, BitMine (BMNR) quietly added another 10,399 ETH, bringing its total holdings to about 5.798 million ETH—approximately 4.8% of the total ETH supply, nearly reaching the 5% "psychological threshold."
More worth noting are a few key figures:
Total assets are about $11.3 billion, with a highly diversified structure:
· Cash and marketable securities: $173 million
· 209 BTC
· Equity in Beast Industries: $180 million
· Investment in Eightco Holdings (NASDAQ: ORBS): $61 million
· Staked ETH: 4,917,189 ETH (85% of total holdings), worth roughly $9.2 billion
Annualized return from staking is about $247 million—just this one item alone is quite substantial.
Share buybacks are also worth discussing: this week, BitMine repurchased 4.5 million shares. Since July 1, it has累计 repurchased 16.1 million shares, claiming it to be the largest stock buyback among crypto reserve-style companies. Management has used real money to show confidence in its own valuation.
Tom Lee also offered an interesting observation—historical data shows that whenever ETH significantly outperforms the QQQ, BitMine’s stock price tends to inversely outperform ETH over the following month. Looking back at several past cycles, this pattern has indeed appeared repeatedly.
In the current crypto cycle, the
$ETH share and the narrative of institutionalization are being strengthened continuously. BitMine’s strategy of "heavy holding + ongoing staking + active buybacks" to some extent represents a new paradigm for traditional capital entering ETH.
Do you think ETH will perform well in Q4? 🧐
#ETH #以太坊 #BitMine