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Bitmine Buys $75M More Ethereum, Says 'Crypto Winter' Nearing End
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Bitmine Immersion Technologies (NYSE: BMNR) purchased an additional $75 million U.S. of Ethereum (ETH) over the past week, acquiring 27,562 ETH. This continues the company's steady buying pattern of more than a year, raising its total holdings to 5,983,940 ETH, approximately 4.9% of Ethereum's circulating supply. Bitmine Chairman Tom Lee argued in a social media post that institutional investors remain underexposed to cryptocurrencies as prices rally. The purchase comes with Ethereum's price at $2,735 on September 21, 2026, up over 30% since the end of August amid a broad digital asset rally. Bitmine has staked about five million ETH, roughly 85% of its holdings, and projects annual staking revenue of $357 million at current yields. Since the end of June 2026, ETH has risen 76%, and a growing number of analysts say the crypto winter that began in October 2025 is nearing an end. BMNR stock has declined 53% over the last 12 months to trade at $25.99 per share.
Source report
Editorial Staff Mon, September 21, 2026, 6:48 AM PDT | 1 min read
Tickers: BMNR | ETH-USD | ETH
Bitmine Immersion Technologies (NYSE: $BMNR) has purchased an additional $75 million worth of Ethereum (CRYPTO: $ETH), signaling growing confidence that the prolonged downturn in digital assets—often referred to as the "crypto winter"—may be coming to an end.
The company, which holds the largest Ethereum treasury among publicly traded firms, acquired 27,562 ETH over the past week. This continues a steady accumulation strategy that has been in place for more than a year.
The latest acquisition, valued at $75.2 million, brings Bitmine’s total holdings to 5,983,940 ETH—equivalent to approximately 4.9% of Ethereum’s circulating supply of 122.1 million tokens.
Key Details
- Purchase value: $75.2 million
- ETH acquired: 27,562 tokens
- Total holdings: 5,983,940 ETH (4.9% of circulating supply)
- ETH price at time of purchase: $2,735 (as of Sept. 21)
- Price performance: ETH up over 30% since end of August; up 76% since end of June
Institutional Interest and Staking Revenue
In a social media post, Bitmine Chairman Tom Lee argued that institutional investors remain underexposed to cryptocurrencies, even as prices rally.
Bitmine also reported that it has staked approximately five million ETH—roughly 85% of its holdings—and projects annual staking revenue of $357 million at current yields.
Market Context
A growing number of analysts believe the crypto winter that began in October 2025 is nearing its end. Ethereum has surged 76% since late June, significantly outpacing stock indices during the same period.
BMNR Stock Performance
Despite the bullish activity in Ethereum, Bitmine’s stock (BMNR) has declined 53% over the past 12 months, trading at $25.99 per share.
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Source
Yahoo FinanceWestern
Part of this Story
BitMine Adds 27,562 Ether in a Week, Total Holdings Reach 5.98 Million ETH