BMNR stock slipped to $23.85 on Monday, October 12, declining roughly 0.75% from Friday's close even as Bitmine Immersion Technologies continued its Ethereum acquisition program. The stock opened near $24.21 and traded between $23.78 and $24.43, with trading volume reaching approximately 11.7 million shares.
Bitmine reported acquiring 12,532 ETH during the previous week, the latest purchase in a buying program that began in June 2025. The acquisition brought the company's total Ethereum holdings to 6,028,946 tokens, valued near $15.3 billion using a Coinbase reference price of $2,544.
The holdings represent roughly 4.9% of Ethereum's stated 122.1 million supply, positioning Bitmine close to its stated goal of controlling 5% of the network. The company would need to acquire approximately 76,054 additional ETH to reach that target.
Bitmine's combined crypto, cash, securities, and other investments totaled $16.2 billion, including $612 million in cash and marketable securities, 214 Bitcoin, and holdings in Beast Industries and Eightco Holdings. The company's market value stood near $14.4 billion at the time of Monday's trading.
Ether declined 1.5% over 24 hours, trading at $2,505.74 at 17:30 UTC, according to CoinGecko. The token traded between $2,502.70 and $2,575.42 during that period, with its market capitalization near $305.82 billion based on circulating supply data. ETH remained approximately 49.4% below its recorded peak of $4,946.05.
Bitmine reported 5,067,309 staked ETH as of October 11, representing about 84% of its total Ethereum position. Chairman Tom Lee estimated annualized staking revenue near $336 million based on current holdings.
