Overview
- BitMine bought a record 45,759 ETH last week for over $90 million, alongside fresh purchases including 35,000 ETH on Feb. 19 and 20,000 ETH on Feb. 18 via BitGo.
- Total holdings stand at 4,371,497 ETH—about 3.62% of circulating supply—putting the company roughly 72% of the way to its 5% ‘Alchemy of 5%’ target of ~6 million ETH.
- Roughly 3,040,483 ETH (about 69% of holdings) is staked, generating an estimated $176 million in annualized rewards at a 2.89% yield, with the MAVAN validator rollout slated for Q1 and projected to raise rewards to about $252 million.
- SEC 13F filings show 457 institutional holders owning about 136.7 million BMNR shares valued near $2.86 billion, with notable increases reported by Morgan Stanley, ARK, BlackRock, Goldman Sachs, Bank of America, Citigroup, and BNY Mellon.
- Despite the on‑chain accumulation and a reported $9.6 billion asset base including $670 million in cash and a $200 million Beast Industries stake, BMNR has fallen nearly 2% in 24 hours and more than 8% since Feb. 13, as Chairman Tom Lee reiterates continued ETH buying during a market ‘mini‑winter.’