BitMine slowed its Ethereum buying last week as the company shifted nearly $86M into share repurchases while keeping its long-term treasury target intact. The firm added 7,430 ETH, lifted holdings to 5.77M ETH, and moved closer to controlling 5% of Ethereum supply through its “Alchemy of 5%” plan goal.
BitMine Slows ETH Buying During Buyback
BitMine Immersion Technologies bought 7,430 ETH over the past week, bringing its Ethereum treasury to 5,777,468 ETH. The company remains the largest corporate holder of Ethereum and the second-largest corporate digital asset treasury behind Strategy.
The latest purchase was smaller than several earlier weekly additions. Chairman Tom Lee linked the slower buying pace to BitMine’s share repurchase activity during the same reporting period.
BitMine repurchased 5.5 million common shares for nearly $86 million. The company paid an average price of $15.6156 per share under its previously authorized $4 billion buyback program.Lee said,
“The reduced pace of buys reflects that BitMine repurchased 5.5 million common shares.”
He also said BitMine has bought ETH every week since starting its Ethereum treasury strategy on June 30, 2025.
Ethereum Treasury Nears 5% Supply Goal
BitMine said its Ethereum holdings are now worth about $10.8 billion at current prices. The company is about 96% of the way toward its “Alchemy of 5%” target.
That target refers to holding 5% of Ethereum’s total supply. BitMine now owns about 4.8% of the supply, based on its latest stated holdings.
The company also holds 207 Bitcoin, $385 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $58 million position in Eightco Holdings.
BitMine valued its combined holdings at about $11.5 billion as of July 19. ETH traded near $1,871.39, still about 62% below its all-time high of $4,946.05.
Staking Revenue Supports Future Capital Plans
BitMine has staked about 4.92 million ETH, equal to roughly 85% of its Ethereum treasury. The company said its staking operations generated a 2.67% seven-day annualized yield.
Based on that yield, BitMine projects about $247 million in annualized staking revenue. That figure could rise toward $290 million if the full Ethereum treasury is staked.
Staking and validation have become BitMine’s main operating business. The company reported $45.7 million from staking and validation in the quarter ended May 31, representing 98% of total quarterly revenue.
BMNR shares traded about 2.7% higher near $16.12 during Monday’s session. That placed the stock above BitMine’s average repurchase price from the latest buyback.
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