- Bitmine acquired another 10,452 ETH over the past week, increasing its Ethereum treasury to 6,051,933 ETH worth approximately $14.3 billion.
- The company now controls 4.95% of Ethereum’s circulating supply, with 5.23 million ETH staked and generating projected annualized revenue of $318 million.
- Bitmine also repurchased 2.04 million shares last week, bringing its total 2026 share buybacks to 22.9 million shares worth approximately $399.6 million.
Bitmine Immersion Technologies has expanded its Ethereum treasury to more than 6.05 million ETH after purchasing another 10,452 tokens over the past week.
The company’s holdings reached 6,051,933 ETH as of Oct. 25, valued at approximately $14.3 billion based on an Ethereum price of $2,356.
Bitmine now owns around 4.95% of Ethereum’s circulating supply of 122.2 million tokens, bringing it closer to its previously announced target of holding 5% of the total supply.
The company also reported combined cryptocurrency holdings, cash, marketable securities and other investments worth approximately $15 billion.
Bitmine Stakes 5.23 Million Ethereum
Bitmine continues to generate revenue by staking a substantial portion of its Ethereum holdings.
The company currently has 5,227,037 ETH staked through its MAVAN platform and other staking partners.
That represents approximately 86% of its total Ethereum treasury.
Based on current staking conditions, Bitmine projects annualized revenue of approximately $318 million.
The company estimates that revenue could increase to around $368 million annually if its entire Ethereum treasury were staked.
Beyond Ethereum, Bitmine reported holding 215 BTC, a $180 million investment in Beast Industries and a $76 million stake in Eightco Holdings.
The company also maintains approximately $514 million in cash and marketable securities.
Bitmine Share Buybacks Reach $399.6 Million
Alongside its latest Ethereum purchase, Bitmine continued repurchasing its own shares.
The company bought back approximately 2.04 million shares over the past week at an average price of $22.48 per share.
Its total share repurchases during 2026 have now reached 22.9 million shares.
According to the company, those purchases cost approximately $399.6 million at an average price of $17.48 per share.
The buyback program comes as Bitmine continues expanding its Ethereum treasury while approaching its 5% supply target.
Bitmine shares closed Friday at $22.40, declining approximately 0.4% during the session.
Tom Lee Says Crypto Bull Market Is Underway
Bitmine Chairman Tom Lee remains optimistic about Ethereum and the broader cryptocurrency market despite recent price weakness.
Lee reiterated his belief that the cryptocurrency bull market is already underway.
He pointed to Ethereum’s approximately 13% decline from its recent peak, comparing it with a 20% drop in the U.S. semiconductor sector over the same period.
According to Lee, Ethereum’s relatively smaller decline suggests the cryptocurrency market has demonstrated resilience compared with certain other risk-sensitive assets.
However, Ethereum continues to face price volatility.
ETH traded around $2,322 on Monday, down approximately 0.4% over the previous 24 hours.
With Bitmine’s Ethereum holdings approaching 5% of circulating supply, investors will be watching whether the company continues accumulating ETH, increases its staking activity or shifts more capital toward share repurchases.
