BitMine Immersion Technologies bought 32,977 Ethereum during the final week of 2024, pushing shares of BMNR higher on U.S. exchanges. The company now holds roughly 4.143 million ETH on its balance sheet, representing about 3.43% of the circulating supply.
What Happened: Major ETH Purchase
BitMine disclosed the purchase in a press release that showed total crypto, cash and strategic investments at about $14.2 billion.
The fresh acquisition adds to a position built over several months.
About 659,219 ETH in the company's portfolio is currently staked to generate yield while the remainder stays in custody. BitMine plans to expand validator operations through a program called the Made In America Validator Network, expected to launch in early 2026.
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Why It Matters: Stock Rally
BMNR saw notable trading volume after the announcement, with pre-market gains around 4% in some sessions. Traders flagged the purchase as a driver for increased demand in the stock.
The firm will hold its Annual Stockholder Meeting on Jan. 15, 2026, where proposals including an increase in authorized shares will be voted on.
Analysts say key signals to watch include daily ETH market flow, further BitMine disclosures and BMNR trading patterns, as the company has been among the larger active Ethereum buyers recently.
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