Key Highlights
- BMNR shares declined $0.18 to $23.85 on October 12, with trading volume reaching 11.71 million shares.
- Bitmine purchased 12,532 ETH over the past week, increasing its total holdings to 6,028,946 ETH.
- The company valued its ETH position at approximately $15.3 billion and reported combined crypto, cash, marketable securities, and strategic investments of $16.2 billion.
Shares of Bitmine Immersion Technologies, Inc. (NYSE: BMNR) fell 0.73% to $23.85 on Monday, declining $0.18, even as the company reported purchasing 12,532 Ether (ETH) over the past week.
According to Yahoo Finance data (on October 12 at 17:30 UTC), BMNR traded between $23.78 and $24.43 during the session. Its intraday market capitalization stood at $14.378 billion, with a volume of 11,707,361 shares, compared with an average of 38,446,359.
According to CoinGecko (on October 12 at 17:30 UTC), Ether also declined during the period, falling 1.5% over 24 hours to $2,505.74.
BMNR opened the session near $24.21 before declining. The intraday chart reflected a downward trend after the early hours, with the share price settling at $23.85, according to Yahoo Finance (on October 12 at 17:30 UTC).
Bitmine’s ETH holdings reach 6.03 million
Bitmine’s October 12 holdings update said that the latest purchases increased its total ETH position to 6,028,946 tokens.
According to the company’s official announcement, Bitmine valued the ETH holdings at $2,544 per token, based on Coinbase pricing, for a total of approximately $15.3 billion. The company reported combined holdings of cryptocurrency, cash, marketable securities, and strategic investments, which it calls “moonshots,” at $16.2 billion.
The 6,028,946 ETH represents about 4.9% of Ethereum’s total supply of 122.1 million tokens, the denominator Bitmine has applied in its recent weekly disclosures.
That leaves Bitmine roughly 76,000 ETH short of its stated 5% accumulation target. The company’s chairman said last week that purchases would stop once the target was reached.
ETH price movement alongside Bitmine’s performance
At the same time (on October 12 at 17:30 UTC), Ethereum traded at $2,505.74, down 1.5% over the prior 24 hours, according to the data from CoinGecko. The token moved within a daily range of $2,502.70 to $2,575.42. The 24-hour chart showed an advance from levels near $2,520 early in the period, reaching a high near $2,575 around midday before a steady decline through the afternoon and evening, settling near the session low.
Ethereum’s market capitalization was $305.82 billion, with circulating and total supply both at 122.128 million tokens. CoinGecko listed its all-time high at $4,946.05, putting the reported price approximately 49.4% below that level. Its recorded all-time low was $0.433.
The BMNR and ETH figures provide a snapshot of their respective market performance on October 12. The data does not establish a direct relationship between Bitmine’s latest ETH purchase and the movement in its share price.
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