Bitmine’s 10,000 ETH Buy Signals Crypto’s Outperformance Against Nasdaq

Woofun AI reports that Bitmine Immersion (BMNR) executed a strategic pivot by acquiring 10,399 ETH, a move framed as confidence in cryptocurrency’s ability to outperform the Nasdaq 100, alongside key industry figures like @coinbase and @MrBeast.

The transaction involved a purchase of 10,399 ETH valued at $19.1 million, with an average entry price near $1,840. This acquisition highlights Ethereum’s recent momentum, having outperformed the Nasdaq 100 by 2,500 basis points in the period leading up to August 3, 2026, while targeting a long-term price milestone of $4,000.

Corporate actions further reflect this bullish stance, as the company previously purchased 9,946 ETH and repurchased 4.5 million shares from a total of 16 million shares outstanding.

Woofun AI data shows the company’s market capitalization reached $11.3 billion, driven by a treasury holding of 5.8 million ETH, which constitutes 4.8% of its total assets.

The broader treasury composition includes 209 bitcoin and $173 million in cash and securities, linked to entities such as Beast Industries and Eightco Holdings. With 4.9 million ETH staked representing 85% of holdings, and a related $247 million investment in MAVAN, this marks a definitive consolidation of digital asset reserves.