Last week, the company acquired only 7,430 ETH, valued at around $14 million, as it approaches its target of controlling 5% of Ethereum's supply.
By Krisztian Sandor|Edited by Stephen Alpher Jul 20, 2026, 12:55 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Tom Lee on the Mainstage at Consensus Miami 2026 (CoinDesk)SummaryShow- Last week, Bitmine significantly reduced its Ethereum purchases, acquiring only 7,430 ether valued at roughly $14 million, while reallocating funds to a stock buyback initiative.
- The firm now possesses approximately 5.78 million ETH, accounting for about 4.8% of Ethereum’s total circulating supply, and is getting closer to its aim of controlling 5% of the token's total supply.
- Bitmine repurchased around 5.5 million shares at an average cost of $15.62, and it continues to generate an estimated annual staking revenue of about $247 million from its 4.92 million staked ETH.
Bitmine (BMNR), recognized as the largest Ethereum treasury firm, acquired only 7,430 ETH last week, reducing its purchasing activity as it redirected resources toward a stock buyback.
This latest acquisition, valued at approximately $14 million based on the current ETH price of $1,879, brings Bitmine's total ETH holdings to 5.78 million, which is roughly 4.8% of the circulating supply of Ethereum, as per a company update released on Monday.
BMNR's stock was up by 2.4% in pre-market trading.
This purchase represents one of the smallest weekly increases since Bitmine began its Ethereum treasury strategy in June 2025. In contrast, the firm acquired over 111,000 ETH in a single week in May and consistently bought tens of thousands of tokens during the first half of the year. The company is now closing in on its objective of acquiring 5% of the ETH supply.
Chairman Thomas "Tom" Lee explained that the slowdown in acquisitions is due to the company's decision to buy back roughly 5.5 million shares at an average price of $15.62, as part of its previously approved $4 billion buyback program.
"The slower rate of purchases is indicative of Bitmine's repurchase of 5.5 million common shares," Lee noted, adding that the company has consistently purchased ETH weekly since launching its treasury strategy just over a year ago.
As of Sunday, Bitmine's total assets were valued at $11.5 billion. In addition to its ETH holdings, the company also possesses 207 bitcoin, $385 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $58 million stake in Eightco Holdings.
The firm continues to earn revenue from staking its ETH, stating that it has staked 4.92 million ETH, which constitutes about 85% of its total holdings, and anticipates an annualized revenue of around $247 million via its MAVAN staking platform.
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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