Overview
- BitMine disclosed a 96,798‑ETH purchase last week and on‑chain trackers flagged an additional 23,773 ETH in recent buys, lifting holdings to about 3.73 million tokens, or more than 3% of supply.
- The company said it increased weekly ETH purchases by 39% as it positions for the Dec. 3 Fusaka upgrade and potential policy easing from the Federal Reserve.
- Total reported assets stand near $12.1 billion, including 3.726 million ETH, 192 BTC, $882 million in cash, and a $36 million stake in Eightco, with a U.S. staking platform (MAVAN) targeted for early 2026.
- Based on a disclosed average ETH cost of roughly $3,008, reporters estimate multi‑billion dollars in unrealized losses at current market prices.
- BMNR shares fell roughly 10–12% on Monday alongside ETH weakness, then rebounded about 10% on Tuesday as Ethereum recovered ahead of the network upgrade.