Overview
- BitMine holds about 4.29 million ETH acquired for roughly $16.4 billion that is now valued near $8.4 billion, according to DropStab data.
- Shares of BMNR fell about 9% Thursday to a seven‑month low and are down roughly 88% from their July peak.
- The company continues to buy, adding 41,788 ETH in the past week as part of its accumulation program.
- More than 2.9 million ETH is staked, producing an estimated ~2.8% annual yield and contributing recurring revenue.
- Chairman Tom Lee defended the strategy as designed to track ETH through cycles, while broader selling and on‑chain liquidations have intensified downside pressure on the asset.