TLDR
- Bitmine bought 9,926 more ETH, bringing its total holdings to 5.815 million ETH worth about $11 billion
- Holdings now equal roughly 4.8% of all ETH in circulation, closing in on the firm’s 5% goal
- Bitmine has staked 5,067,309 ETH worth about $9.6 billion
- The company repurchased 1.7 million shares, pushing total buybacks since July 1 past 20.8 million shares
- Ethereum traded near $1,899 while Bitmine’s stock fell 1.33% to $18.73
Bitmine Immersion Technologies added more Ethereum to its balance sheet this week. The company purchased 9,926 ETH over the past seven days.
This latest buy brings Bitmine’s total Ethereum holdings to 5.815 million coins. That stash is worth close to $11 billion at current prices.
The purchase puts Bitmine near a goal the company calls the “alchemy of 5%.” Its holdings now represent about 4.8% of all Ethereum in circulation.
That means Bitmine is just 0.2% away from owning 5% of the entire ETH supply. The firm has been steadily building this position for months.
Beyond simply holding ETH, Bitmine has also staked a large share of its coins. The company has staked 5,067,309 ETH, worth roughly $9.6 billion at a price of $1,893 per coin.
Bitmine’s Buying and Buyback Activity
Bitmine Chairman Tom Lee spoke about the company’s staking scale this week. He said Bitmine has staked more ETH than any other entity in the world.
Lee added that once all of Bitmine’s ETH is fully staked through MAVAN and its staking partners, the projected reward could reach $287 million a year. That estimate uses a 2.61% seven-day yield.
Alongside its ETH purchases, Bitmine has also been buying back its own shares. The company repurchased 1.7 million shares over the past week.
Since July 1, Bitmine’s total share repurchases have topped 20.8 million shares. These buybacks fall under a $4 billion repurchase program the company approved earlier this year.
Bitmine also reached a milestone outside of its ETH and buyback activity. The company was added to the Russell 1000 Large-cap index on June 26, 2026.
Ethereum Market Signals
Ethereum’s price told a different story than Bitmine’s buying news. At the time of writing, ETH was trading at $1,899.70.
Bitmine’s stock price moved lower during the same period. Shares dropped 1.33% over 24 hours to sit at $18.73.
Ethereum’s validator activity also shifted. Validator activity dropped to about 2.2 million ETH on August 17.
Despite the drop, the exit queue for validators stayed small. This suggests more ETH is waiting to enter the validator set than to leave it, pointing to steady demand for staking.
Bitmine is not the only firm growing its ETH stake. Sharplink, the second largest Ethereum treasury holder, reached a total staking reward of 24,338 ETH.
Sharplink’s total Ethereum holdings now stand at 868,699 ETH. That stash is worth about $1.65 billion at current prices.
