Bit Mining, due to large-scale Ethereum purchases, the stock price rose by 4.84%

Bit Mining’s Large Ethereum Purchases Cause Stock Price to Surge 4.84%

New York Stock Exchange-listed company Bit Mining Emergency Technology (BMNR) saw its stock rise 4.84% on April 22, 2026, driven by Ethereum-related momentum. On that day, BMNR traded between $22.70 and $23.40, closing at $23.31. This is a 7.37% increase from the previous close of $21.71 and broke through the recent resistance range of $22–$23.

During the trading session, the stock reached a high of $23.44 and a low of $22.70, with a trading volume of 46.57 million shares, more active than usual. Since the beginning of the year, the stock has declined by 18–30.4%, and the market is closely watching whether this rally marks the start of a trend reversal.

Ethereum Holdings Surpass 4.98 Million, Accounting for 4.1% of Total Supply

BMNR’s stock price increased due to its aggressive Ethereum acquisition strategy. The company holds approximately 4.98 million ETH, representing about 4.1% to 4.12% of the total Ethereum supply. BMNR has set a target called “5% Alchemy,” aiming to acquire 5% of the total ETH supply, and has completed 82% of this goal within nine months.

In the past week, BMNR purchased an additional 101,627 ETH, the largest acquisition of the year. As a result, the company has accumulated ETH worth approximately $230 million. Reliable sources such as Timothy Sykes, StockTwits, MarketBeat, and Bitcoin.com have confirmed this purchase activity.

Global Largest Staking Operation Generates $200 Million Annually

Beyond holding ETH, BMNR has staked about 3.33 to 3.33M ETH through the MAVAN validator network, making it the world’s largest staking operator. This accounts for roughly 68% of its total holdings, with a staking value of $7.7 billion to $7.88 billion.

Recently, the company staked an additional 61,232 ETH, increasing its total staked value to over $7.7 billion. The annual staking rewards currently exceed $200 million, with projections suggesting this could grow to $300–$330 million. BMNR is seen as building a profit model that extends beyond mining to encompass the entire Ethereum ecosystem.

Assets and Liabilities Surpass $14 Billion, $4 Billion Stock Buyback Approved

Thanks to its aggressive ETH acquisitions and staking strategies, BMNR’s balance sheet has grown to between $3.33M and $300M. This includes cryptocurrency assets, cash, equity, and more. The company positions itself as an “Ethereum machine” centered around ETH.

It plans to implement a $4 billion stock buyback program in 2025 to enhance shareholder value. BMNR has also completed its transition to listing on the NYSE main board, increasing accessibility for institutional investors. Analysts at Simply Wall St categorize BMNR as a high-beta stock influenced by ETH price volatility, expecting its stock to exhibit significant leverage if ETH prices rise.

Expanding into the Ethereum Ecosystem, Moving Beyond Mining

BMNR’s strategy is evolving from simple mining and holding to encompass the entire Ethereum ecosystem. Through the MAVAN validator network, staking helps improve network security and decentralization, while also ensuring stable income streams.

Currently, aside from its 5% ETH holding target and MAVAN expansion, no detailed roadmap has been announced. Industry experts anticipate that its business may extend into DeFi, NFTs, Layer 2 solutions, and other areas within the Ethereum ecosystem. MarketBeat and Bitcoin.com interpret BMNR’s strategy as a transition toward becoming a “comprehensive blockchain enterprise centered on Ethereum.”

Increased Intraday Volatility, Investor Attention

On April 22, 2026, BMNR experienced high intraday volatility. The stock opened at $22.85, quickly surged to $23.13, then fell back to $22.69, fluctuating repeatedly. It reached an intraday high of $23.44 in the morning and retreated to the $22.70 range in the afternoon, stabilizing at $23.31 near the close.

The 52-week high was $161, and the low was $3.92. After extreme fluctuations, BMNR is currently seeking a new balance around $23. Trading volume analysis shows large transactions at the opening and before the close, indicating active participation by institutional investors.

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