Bitmine Buys 10,399 ETH, Repurchases 4.5M Shares

Bitmine Immersion Technologies purchased 10,399 ETH over the past week, bringing its total Ethereum holdings to 5,797,813 ETH, roughly 4.8% of circulating supply. The company also repurchased 4.5 million common shares under a previously authorized $4 billion share buyback program.

The ETH purchased this week was worth about $19.5 million at recent prices. Bitmine reported its Ethereum holdings are valued at about $10.9 billion using an ETH price near $1,880, and said total assets including other crypto, cash and investments are approximately $11.3 billion. The company indicated it has reached about 96% of its stated goal to own 5% of all ETH.

Bitmine shifted to an Ethereum treasury strategy on June 30, 2025. The company reported that repurchases since July 1, 2026 now exceed 16.1 million common shares. Company executives have described the buyback as the largest executed by any listed digital-asset treasury firm.

About 4.9 million ETH, or roughly 85% of Bitmine’s holdings, are staked through its institutional staking platform MAVAN. Bitmine projected annualized staking revenue of $247 million, while noting that staking estimates depend on future network conditions and other assumptions.

Earlier this year Bitmine bought 101,627 ETH in April and added 126,971 ETH in June during broader market weakness. The firm also purchased roughly $49 million of ETH in July. The company says these purchases have made it the largest corporate holder of Ethereum.

Ethereum is trading near $1,880 and has risen about 6% over the past 30 days, with a market capitalization near $255 billion. Tom Lee, Bitmine’s chairman, linked the repurchases to periods when ETH outperformed the Nasdaq 100 and said management views the company’s shares as attractively valued. He also called the buyback the largest executed by any crypto treasury firm.