BMNR stock fell today at market open as Bitmine announced a new weekly purchase of Ethereum, the largest this year. The stock price decline also comes as Ethereum’s treasury continues to incur an unrealized loss of more than $6 billion, with Ethereum remaining well below its average cost price.
BMNR stock fell more than 3% amid Bitmine’s new Ethereum buying
In a press releaseBitmine announced that it acquired 101,627 ETH ($235 million) over the past week, representing the fastest pace of accumulation since the week of December 15, 2025. The company now holds approximately 5 million ETH, representing 4.12% of the Ethereum supply.
It is also worth noting that this also represents Bitmine’s largest weekly purchase this year, surpassing Buying $157 million worth of Ethereum Announced last week. BMNR stock fell amid the announcement of the latest purchase.
The stock price fell more than 3% at market open today, and is currently trading at around $22, according to TradingView data. BMNR stock is also down 21% year-to-date, reflecting Ethereum’s price action given the company’s exposure to ETH.
Bitmine currently has an unrealized loss of $6.3 billion, with the average purchase price of ETH around $3,600, according to DropsTab. However, the Ethereum treasury continued to accumulate more Ethereum each week despite this withdrawal in its wallet due to… Ethereum price Crashed this year.
With the recent purchase of Ethereum, Bitmine is closer to reaching the “5% alchemy,” which is having 5% of the total supply of ETH. Meanwhile, although BMNR stock has been declining since the beginning of the year, it remains one of the most actively traded US stocks, indicating institutional interest in gaining exposure to ETH.
Signs that the crypto winter may soon be over
Tom Lee, Chairman of Bitmine, said they are seeing increasing signs that the “micro-crypto” winter is coming to an end. He noted that the price of ETH has risen 41% from its lows in early February as the downside risks of the US-Iran war have faded.
BMNR stock is also up more than 4% in the past month, as traders price in an imminent end to the war. Cryptocurrency stocks also rose last week as Iran announced plans to reopen the Strait of Hormuz. But Iran has since closed the strait again, and this is one of the reasons Crypto stock ETH and ETH are facing downward pressure today.
Tom Lee noted that they remain bullish on their Ethereum strategy as Ethereum continues to “benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and of proxy AI systems that increasingly need a public, neutral blockchain.” He added that there is a lot of sense in ETH being the main asset since the war began.
Read also: The best platforms for tokenizing real-world assets
