BitMine said on Monday it bought 12,532 Ethereum in the week to October 11, its third small weekly purchase in a row, taking the treasury to 6,028,946 ETH, or 4.9% of the 122.1 million ETH in supply.<\/p>\n
The purchase followed the 15,112 ETH BitMine added<\/a> in the week to October 4, and the company bought 17,362 ETH the week before that.<\/p>\n The company marked<\/a> its ETH at $2,544 per token, using Coinbase prices. At those levels, its crypto, cash, and equity stakes total $16.2 billion. Cash and marketable securities came to $612 million, down from $643 million a week earlier. BitMine\u2019s release gives no reason for the cash decline.<\/p>\n BitMine reported 5,067,309 ETH staked, or 84% of its ether. Chairman Tom Lee projected $336 million a year in revenue from that staked ether, based on a 2.61% seven-day yield. He said that would rise to $400 million once all of the company\u2019s ether is staked.<\/p>\n Lee said<\/a> in May that BitMine had slowed its ETH accumulation to reach the 5% target in late 2026 instead of mid-July. He returned to that target in a video message whose transcript BitMine filed with the SEC on October 7. In that message, Lee said BitMine built its position in 15 months, during a bear market.<\/p>\n \u201cSo we need to get about 100,000 more ETH, and that\u2019s about it,\u201d Lee said. He then said BitMine is done stacking while a bull market starts.<\/p>\n Monday\u2019s release still says BitMine has bought ETH every week since its treasury strategy began on June 30, 2025. The same release, in its note on forward-looking statements, cites a management statement that the company is largely finished buying ETH.<\/p>\n In that same message, Lee said that BitMine started buying back its own shares on July 14, when the company repurchased 21 million shares for $350 million and completed the program on August 17. None of the weekly updates BitMine has filed since then report a repurchase.<\/p>\n BitMine also raised money this year through its 9.5% perpetual preferred stock, which trades as BMNP. BitMine had planned<\/a> the preferred stock offering to fund more Ethereum buying, among other uses. It sold 3.5 million shares at $80 each on June 10. Those preferred shares last closed at $99.53, and Lee put their current yield at 9.56%.<\/p>\n The post BitMine\u2019s Weekly ETH Buys Shrink to 12,532 as Tom Lee Says Stacking Is Done<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BitMine said on Monday it bought 12,532 Ethereum in the week to October 11, its third small weekly purchase in a row, taking the treasury to 6,028,946 ETH, or 4.9% of the 122.1 million ETH in supply. The purchase followed the 15,112 ETH BitMine added in the week to October 4, and the company bought […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-238748","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/238748"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=238748"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/238748\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=238748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=238748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=238748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BitMine Is Done Stacking<\/h2>\n
Buyback Ended on August 17<\/h2>\n