- Bitmine added 10,399 ETH last week, extending its weekly accumulation streak since June 2025.
- The company repurchased 4.5 million shares last week, bringing total buybacks to 16.1 million shares over three weeks.
- Executive Chairman Tom Lee said the buyback reflects management confidence after Ethereum outperformed the Nasdaq 100 by 2,500 basis points in July.
- Bitmine now holds approximately 5.79 million ETH, representing about 4.8% of Ethereum’s circulating supply.
Shares of Bitmine Immersion Technologies (BMNR) slipped more than 2% Monday morning, even as the company continued expanding its Ethereum treasury and repurchasing stock. The firm added 10,399 ETH over the past week, marking an uninterrupted streak of weekly purchases since its Ethereum Treasury Strategy launched in June 2025.
The company also repurchased 4.5 million shares last week, lifting total buybacks to 16.1 million shares over the past three weeks. Executive Chairman Tom Lee stated, “Bitmine repurchased 4.5 million shares of common stock in the past week, as Bitmine’s management team continues to view Bitmine shares as attractively valued.”
Lee attributed the buyback to Ethereum’s strong relative performance, noting that “In July, ETH outperformed the Nasdaq 100 by 2,500bps. This is the largest outperformance since July 2025, and we believe it is reflective of the strengthening fundamentals of crypto.” Meanwhile, ethereum’s price edged 0.3% lower in the last 24 hours to trade at around $1,800.
Bitmine now holds approximately 5.79 million ETH, equal to about 4.8% of Ethereum’s circulating supply. Roughly 4.92 million ETH—85% of its holdings—are staked through the company’s MAVAN platform. The balance sheet also includes 209 Bitcoin, a $180 million stake in Beast Industries, a $61 million investment in Eightco Holdings, and about $173 million in cash.
On Stocktwits, retail sentiment toward BMNR dipped to ‘neutral’ from ‘bullish’ over the past day, and chatter reduced to ‘normal’ from ‘high’ levels.
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