# Bitmine stock jumps 13% as firm adds $123 million of ETH

**Published:** 2026-07-28T06:41:34.797Z  
**Topic:** Ethereum  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/743285e9-e7c1-43f1-b20e-8a1de99e17e1

Bitmine shares rise 13.5% after buying 75,000 ether for $123 million, pushing its treasury past 5.4 million ETH and near a 5% supply target.

Bitmine Immersion Technologies shares surged 13.49% on Monday, driven by a fresh $123 million purchase of 75,000 ether that lifted its treasury above 5.4 million ETH—just shy of the 5% of total supply goal it set 13 months ago【2】.  

| At a glance | |
|---|---|
| Stock move | +13.49% |
| ETH purchase | 75,000 ETH ($123 M) |
| Treasury size | >5.4 M ETH (~4.6‑5% of supply) |
| Catalyst | Large‑scale buy via Kraken & FalconX |

## Large‑scale buy lifts treasury toward 5% goal  
The June 9 acquisition was executed over an eight‑hour window through Kraken and FalconX, split across three wallets, two of which were newly created for the trade【2】. At an average price of roughly $1,640 per ether, the purchase added roughly 0.7% to Bitmine’s existing holdings, which already included 5.4 million ETH valued at about $11.3 billion based on the July 26 price of $1,948 per coin【1】. On‑chain trackers place the stake closer to 4.6% of the 120.7 million ETH circulating supply, but the company’s own target remains “controlling more than 5% of all ether in existence”【2】.

## Stock reacts to each disclosed buy, reflecting market sentiment  
Bitmine’s stock has historically mirrored ether’s price swings, with each publicized acquisition moving the share price. The latest jump follows a pattern where the firm’s disclosures act as a proxy for institutional confidence in ether, especially as the broader crypto market endures a rough 2026 stretch with ether trading near $1,630—well below the $2,135 average price of earlier large purchases【2】. The company’s ongoing weekly purchases since the ETH treasury strategy launched on June 30, 2025, underscore a commitment to buying on drawdowns, a stance championed by chairman Tom Lee【1】.

## Staking revenue underpins the treasury’s economics  
Bitmine plans to stake the majority of its ether through its MAVAN platform, targeting an annualized yield near 3% and projecting staking revenue of $254 million now, rising to $270‑$299 million once the full position is deployed【1】【2】. This revenue stream is central to Lee’s narrative that the treasury is more than a passive price bet, linking ether’s long‑term demand to growth in AI and on‑chain finance.

## What to watch  
- **Ether price near $1,950** – a level that could trigger further Bitmine purchases if the price dips.  
- **Upcoming token unlocks** – any large ETH supply releases could affect the 5% ownership ceiling.  
- **Regulatory or ETF decisions** – new U.S. or European crypto‑related rulings could shift institutional demand for ether.

Bitmine’s aggressive accumulation keeps it on track to hit the 5% supply milestone before year‑end, but the firm’s reliance on ether’s price and staking yields means its valuation remains tightly coupled to market volatility and broader crypto sentiment.

## Sources
1. The Motley Fool — [Why Bitmine Stock Popped Today](https://www.fool.com/investing/2026/07/27/why-bitmine-stock-bmnr-is-up-today/)
2. News — [Tom Lee's Bitmine Buys $123 Million More Ethereum as Treasury...](https://news.bitcoin.com/bitmine-buys-123m-ethereum-treasury-5-4m-eth/)
3. Tipranks — [Bitmine Stock Drops After Devouring $154 Million in Cheap Ethereum...](https://www.tipranks.com/news/bitmine-stock-drops-after-devouring-154-million-in-cheap-ethereum-as-tom-lee-says-oil-reversing-eth-prices-recovering)
4. CoinDesk — [Ethereum news: Bitmine (BMNR) buys $92 million ETH as Tom Lee...](https://www.coindesk.com/business/2026/06/22/bitmine-added-usd92-million-of-eth-with-tom-lee-continuing-to-believe-in-crypto-spring)

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Cite as: TrendWatcher, "Bitmine stock jumps 13% as firm adds $123 million of ETH", https://www.trendwatcher.in/article/743285e9-e7c1-43f1-b20e-8a1de99e17e1