Bitmine, an Ethereum treasury firm, made only a slight addition to its ETH reserves last week, acquiring merely 7,430 ETH—valued at approximately $14 million—as it redirected funds towards a stock buyback initiative instead.
This latest acquisition has increased Bitmine's ETH holdings to around 5.78 million tokens, representing close to 4.8% of Ethereum's total circulating supply, as stated by the company. This positions Bitmine closer to its aim of obtaining 5% of the token's supply. Currently, Bitmine, which operates under the ticker BMNR, is trading at $16.61, marking a nearly 6% rise for the day.
With its ETH assets valued at roughly $11 billion, Bitmine stands as the largest corporate holder of Ethereum globally. It ranks among the most significant digital asset treasuries, only surpassed by Michael Saylor’s strategy, which holds around $54 billion in Bitcoin.
However, this recent purchase represents one of Bitmine's smallest weekly increases since it began its Ethereum treasury strategy in June 2025. The difference is notable; in May, the firm acquired over 111,000 ETH in just one week.
Tom Lee, Chairman of Bitmine, attributed the slowdown to the stock repurchase program, informing shareholders that the company bought back about 5.5 million common shares at an average price of $15.62, part of its $4 billion buyback plan. (Note: Tom Lee is an investor in Dastan, the parent company of Decrypt.)
Lee stated, "The reduced pace of buys reflects that Bitmine repurchased 5.5 million common shares." He highlighted that the company has consistently purchased ETH weekly since the strategy's initiation a little over a year ago.
In addition to its Ethereum holdings, Bitmine disclosed that it possesses 207 Bitcoin, $385 million in cash and securities, a $180 million investment in Beast Industries, and a $58 million stake in Eightco Holdings.
Moreover, the company reported it has staked 4.92 million ETH—approximately 85% of its total holdings—projecting an annualized revenue of around $247 million through its MAVAN validator platform.