BitMine Acquires 60,976 ETH, Boosts Holdings to 4.53M Tokens
BitMine Immersion Technologies purchased 60,976 ETH last week, increasing its holdings to 4,534,563 tokens (3.76% of total supply) at $1,965 per token. BMNR shares have gained 4.5% after breaking below $18.59 and are now retesting the broken $20.06 resistance.
1. ETH Purchase Details
BitMine purchased 60,976 Ethereum tokens last week, exceeding its weekly average of 45,000–50,000. This brings total ETH holdings to 4,534,563 tokens at a cost basis of $1,965 each.
2. Asset Portfolio and Staking Revenues
The company’s total crypto and cash assets now stand at $10.3 billion, including $1.2 billion in cash, 195 Bitcoin, a $200 million stake in Beast Industries, and $14 million in Eightco Holdings. Of its ETH holdings, 3,040,483 tokens (67%) are staked, generating $174 million in annualized revenue with projected rewards of $259 million at full scale.
3. ETH Price Bottom Forecast
Leadership cites DeMark Analytics’ historical analogs showing 89% and 93% correlations with 2011 and 1987 S&P patterns, forecasting Ethereum to bottom below $1,740 between March 8–14. The firm plans to accelerate ETH accumulation around this contrarian timing.
4. Stock Technical Analysis
BMNR shares fell below the $20 support zone and the lower Bollinger Band at $18.59 before rebounding 4.5%. The stock is now testing key resistance at $20.06, with further hurdles at $21.00–$22.00 and support floors at $12.00–$15.00.