- Bitmine purchased 9,946 ETH, raising its Ethereum holdings to 5.79 million ETH valued at about $11.3 billion.
- The company expanded share repurchases to 11.6 million shares while maintaining weekly Ethereum purchases since June 2025.
- Bitmine has staked 85% of its ETH holdings, projecting annualized staking rewards of up to $299 million.
Bitmine Immersion Technologies announced it purchased another 9,946 ETH during the past week, lifting its total crypto, cash, and investment holdings to $11.8 billion. According to the company, the latest purchase extends its weekly Ethereum buying streak since launching its ETH Treasury Strategy on June 30, 2025. The update also included larger stock repurchases and expanded staking activity.
Ethereum Holdings Continue To Grow
According to Bitmine, its treasury now holds 5,787,414 ETH valued at about $11.3 billion using Coinbase’s quoted price of $1,948 per ETH. The company also owns 208 Bitcoin alongside $268 million in cash and marketable securities.
The portfolio also includes a $180 million stake in Beast Industries and a $61 million investment in Eightco Holdings. Together, those positions contribute to the company’s reported holdings of $11.8 billion.
Bitmine said its Ethereum balance represents about 4.8% of the network’s 120.7 million ETH supply. Chairman Tom Lee said the company has added Ethereum every week since introducing its treasury strategy last year.
Share Buybacks And Price Targets
Alongside the latest acquisition, Bitmine increased its common stock repurchases. The company bought back 6.1 million shares during the past week after repurchasing 5.5 million shares the previous week.
According to Lee, Bitmine has repurchased 11.6 million shares since July 1, 2026, under its previously authorized $4 billion buyback program. He added that the company increased repurchases after the ETH-to-Bitcoin ratio reached a three-month high despite lower expectations for the Clarity Act in 2026.
Lee also said Ethereum recently reached a 10-week price high. He added that advisor Tom DeMark of DeMark Analytics identified $2,000 and $2,500 as near-term price levels if current comparisons continue.
Staking Operations Expand Through MAVAN
Earlier this year, Bitmine launched the Made in American VAlidator Network, known as MAVAN, to support institutional Ethereum staking. According to the company, 4,917,189 ETH, or about 85% of its holdings, are already staked.
Bitmine projected annualized staking rewards of $299 million once all Ethereum moves onto MAVAN and partner platforms. The company also estimated current annualized staking revenue at $254 million based on a 2.65% seven-day staking yield.
