BitMine adds 9,926 ETH as BMNR stock gains 3.7%

BitMine Immersion Technologies added 9,926 Ethereum over the week ending Aug. 16, raising its reported holdings to 5,815,164 ETH. Summary 9,926 ETH purchased last week raised BitMine’s reported treasury to 5,815,164 tokens by Sunday night. BMNR shares rose 3.68% Monday to $18.73, then added 0.37% during after hours trading later. BitMine has staked 5,067,309 ETH, representing approximately 87% of its reported Ethereum treasury holdings currently. Annualized staking revenue of $250 million remains a company projection based on recent yields only. 1.7 million shares were repurchased last week under BitMine’s previously authorized $4 billion buyback program. The U.S. company valued the tokens at approximately $11 billion using an ETH price of $1,893. BitMine said the position represented 4.8% of Ethereum’s estimated 120.7 million supply in its Aug. 17 release. BMNR stock closed 3.68% higher at $18.73 on the New York Stock Exchange on Aug. 17. It gained another 0.37% to $18.80 in after hours trading, according to Google Finance data. BitMine stock opened Monday at $18.20 and traded between $18.11 and $19.00. Approximately 30.95 million shares changed hands, compared with its reported a...