Bitmine Immersion Technologies slowed its ether purchases to 7,430 ETH last week, marking the smallest weekly increase since June 2025, as it redirected cash toward repurchasing its own shares.
The latest acquisition brought Bitmine's ETH holdings to 5,777,468 tokens, worth approximately $10.9 billion at $1,879 per ETH. This amount represents 4.8% of Ethereum's 120.7 million total supply, placing Bitmine 96% toward its goal of controlling 5% of all ether, a target it calls the "Alchemy of 5%."
During the same period, Bitmine repurchased about 5.5 million common shares, paying an average price of $15.6156 per share as part of an approved $4 billion stock buyback initiative. Chairman Thomas Lee stated the share repurchases aim to enhance shareholder value and explained that the slower ETH purchases resulted from this focus on equity repurchases.
Bitmine's total assets as of July 19 reached $11.5 billion, including its ETH and BTC holdings, $385 million in liquid cash and securities, and $238 million invested in emerging ventures like Beast Industries and Eightco Holdings (NASDAQ: ORBS). The company holds 207 bitcoin tokens and notes that approximately 85% of its ETH 4,917,189 tokens are staked through MAVAN, its internal validator system, generating an estimated $247 million yearly revenue at a 2.67% yield over seven days.
Despite the reduction in weekly ether buying, Bitmine remains the largest corporate Ethereum holder and ranks second in crypto treasury size behind Strategy, which holds 843,775 BTC. Bitmine was recently included in the Russell 1000 index on June 26, highlighting its rising institutional profile. The company faces a strategic choice between expanding its ETH holdings or prioritizing stock buybacks as it nears its 5% ether ownership goal.
This material is for informational purposes only and does not constitute financial advice.
