Bitmine added 8,573 ETH last week for nearly $20M, pushing its treasury to 6.06M ETH—about 4.9% of Ethereum’s total supply. BMNR stock surged nearly 7% to $21.90.

  • Bitmine is only 50,000 ETH short of its 5% target.
  • About 5.23M ETH, or 86% of the stash, is staked.
  • At full scale, staking could generate roughly $415M annually.

LaunchBar take: This is no longer a speculative treasury headline—it is a giant, yield-producing ETH sink. The accumulation has reportedly continued weekly since June 2025, but BMNR’s overheated intraday RSI warns against chasing the first green candle. ETH exposure and staking demand remain the real alpha.