BitMine Buys Over 50,000 ETH As BMNR Breaks Out 9%

BitMine Immersion Technologies (NYSE:BMNR) surged 9% after acquiring 50,928 Ethereum (CRYPTO: ETH) lifting total holdings to 4.47 million ETH valued at $8.8 billion as Chairman Tom Lee called the pullback “attractive.”

The 50K ETH Purchase

BitMine’s acquisition means the company now owns 3.71% of the total ETH supply, over 74% of the way to its “Alchemy of 5%” target in just eight months.

Total crypto and cash holdings reached $9.9 billion, including 4.47 million ETH, $868 million in cash, 195 Bitcoin (CRYPTO: BTC), a $200 million stake in Beast Industries, and $14 million in Eightco Holdings (NASDAQ:ORB).

Lee defended the aggressive accumulation as geopolitical uncertainty rose. “We continue to steadily acquire ETH and optimize the yield on our ETH holdings,” Lee said. “We view this pullback as attractive, given the strengthening fundamentals. 

The price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

The Staking Strategy

BitMine has 3.04 million staked ETH representing $6.0 billion at $1,976 per token. This represents 68% of total ETH holdings. 

At scale when fully staked through MAVAN, annualized staking rewards would hit $253 million using the 2.86% seven-day yield.

Current annualized staking revenues stand at $172 million. BitMine’s staking operations generated a seven-day yield of 2.86%, outperforming the Composite Ethereum Staking Rate of 2.83%.

The MAVAN staking solution remains on track to launch in Q1.

Lee described it as a “best-in-class” solution offering secure staking infrastructure. BitMine currently works with three staking providers as it moves toward unveiling MAVAN.

BMNR Technical Breakout

BMNR is up 9%, pressing against a key short-term pivot after building a tight base above recent lows. 

The Supertrend at $18.84 has flipped green beneath price, marking the first sustained bullish shift after a prolonged downtrend. 

Price is now trading nearly 9% above that level, creating clear separation from the $17 capitulation zone.

BMNR is reclaiming the 20 EMA at $20.20, with today's high reaching $20.81. This is a decisive technical test. 

Immediate resistance stands at $20.80–$21, followed by the 50 EMA at $22.14. A sustained push through that zone would open the path toward the 100 EMA at $25.78. 

The 200 EMA remains distant overhead at $30.26, defining the broader bearish structure.

On the downside, support now sits at the Supertrend level of $18.84, reinforced by the recent consolidation range between $18 and $19. 

A break back below that area would weaken the breakout attempt and shift focus toward deeper support near $12.13.

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