BitMine Adds 7,391 ETH as BMNR Faces Resistance at $18.63

BitMine Boosts Ethereum Holdings

BitMine has enhanced its Ethereum (ETH) holdings by adding 7,391 ETH in the past week, bringing its total treasury to approximately 5.81 million ETH. This acquisition aligns with the company’s treasury strategy initiated in June 2025, aiming for a total ownership of 5% of the total Ethereum supply, currently estimated at 4.8%.

Staking Operations Projected to Yield Substantial Rewards

Of its total holdings, BitMine has staked around 5.07 million ETH, making up about 87% of its Ethereum treasury. This staking activity is projected to generate approximately $194 million annually based on a seven-day annualized yield of 2.63%. The value of the staked ETH is estimated at $9.8 billion.

Share Repurchase Program Continues

In addition to its ETH acquisitions, BitMine repurchased three million BMNR shares last week, raising the total repurchased shares to 19.1 million under its $4 billion buyback program since its inception in July. Chairman Tom Lee indicated that management perceives the shares as undervalued, citing historical patterns where Ethereum’s gains precede BMNR’s performance increases.

BMNR Stock Reaction and Resistance Levels

Despite these developments, BMNR stock experienced a decline of 2.44%, closing at $18.36, following an attempt to break through resistance at $18.63. The stock’s performance showed an intraday high of $18.86 before retreating. BMNR remains above its ascending support line and the 20-day average at $17.20. However, it has yet to recover its 100-day average, which presents a crucial threshold.

Market Sentiment and Future Outlook

Recent market conditions, including lower expectations for Federal Reserve rate hikes, may influence crypto asset performance positively, according to Lee. However, the broader trend for BMNR remains under pressure as it trades well below the 200-day average of $24.31.