According to reports from CoinDesk, Bitmine Immersion (BMNR), the largest Ethereum treasury firm, purchased just 7,391 ether last week, marking its smallest weekly ETH acquisition in 2026. The purchase, worth approximately $14.2 million at ether's price of $1,915, brought the company's total holdings to over 5.81 million ETH, representing about 4.8% of Ethereum's total supply. This latest haul represents a significant decline from the firm's earlier acquisitions, which typically exceeded 100,000 ETH per week earlier this year. As reported by crypto.news, the latest acquisition was smaller than the 10,399 ETH purchased during the previous week, continuing a trend of reduced weekly purchases.
According to crypto.news, Bitmine has placed 5,067,309 ETH into staking, representing about 87% of its Ethereum treasury. The company valued that position at approximately $9.8 billion based on recent market prices and generated a seven-day annualized yield of 2.63%. Bitmine projects approximately $194 million in annual staking rewards if that rate holds, with staking becoming central to the company's revenue rather than serving only as an additional return on its treasury. A previous crypto.news report found that Bitmine earned $45.7 million from staking and validation during its latest reported quarter, accounting for 98% of revenue.
As reported by CoinDesk, Bitmine has shifted capital toward repurchasing its own shares rather than continued ETH accumulation. The company repurchased 3 million shares last week, which would have cost approximately $50 million to $58 million based on the stock's trading range during the period. Since July, the firm has bought back 19.1 million shares of its own stock under its $4 billion authorization. Chairman Thomas Lee previously indicated that the company would slow crypto accumulation as it approaches its goal of owning 5% of ether's supply, with management continuing to view the shares as undervalued.
According to recent trading data, BMNR shares reached a daily high of $18.91 and a low of $18.06 during the August 10 session, with the stock currently trading at $18.08. The stock has a market cap of ₹11.78 billion and trades with a price-to-earnings ratio of -2.21 and dividend yield of 0.06%. Trading volume reached 16.58 million shares, which is below the average volume of 33.49 million shares. The stock's 52-week range extends from $12.80 to $71.74, indicating significant volatility over the past year.
According to crypto.news, Lee acknowledged disappointment over the CLARITY Act's failure to secure a Senate vote before the August recess. However, he emphasized that financial markets appear more focused on recent economic indicators, with the comments following a weak July employment report that reduced concerns over an immediate Federal Reserve rate hike. Lee noted that the odds of the Federal Reserve hiking interest rates at the next September meeting have fallen to 40% from 75% two weeks ago. He expects easing financial conditions to serve as a tailwind for cryptocurrency markets, citing softer inflation and jobs data as potential catalysts.
