BitMine Takes Its Ethereum Holdings to 5.8 Million ETH

BitMine’s crypto treasury company reaches a new milestone with the continuous accumulation of Ethereum. The company bought 7,391 ETH over the past week for about 14 million dollars. Its holdings now reach 5,805,238 ETH, after a new series of weekly purchases. This progress comes as the total value of its crypto assets, cash, and high-risk investments rises to 11.6 billion dollars. At the same time, its cash reserve continues to decline.

A new Ethereum acquisition

BitMine continues its ETH purchases by adding 7,391 tokens to its portfolio this week, after buying 10,399 ETH the previous week. This accumulation brings its reserves to 5,805,238 ETH Friday evening according to the company announcement. ETH’s value also increased by 2.6% over the week, reaching 1,928 dollars. This rise added about 280 million dollars to the portfolio’s value, compared to only 14 million related to new purchases.

In total, BitMine now claims 11.6 billion dollars in cryptocurrencies, cash, and high-risk investments. The amount was 11.3 billion dollars a week earlier. The increase mainly comes from ETH appreciation rather than the amount invested during the period. Meanwhile, the company holds 209 bitcoins, as well as stakes valued at 180 million dollars in Beast Industries and 69 million in Eightco Holdings.

BitMine accelerates staking of its ETH

Staking is taking a growing role in BitMine’s strategy. The company has placed 5,067,309 ETH in staking, or 87% of its holdings, compared to 85% a week earlier. Tom Lee estimates this activity could generate 257 million dollars in annualized revenue. This projection is based on a 2.63% yield calculated over seven days.

The company thus holds 4.8% of the total Ethereum supply, estimated at 120.7 million ETH. It remains at 96% of its “Alchemy of 5%” target, a level maintained for the fifth consecutive week. To reach this threshold, about 229,800 additional ETH would be needed. At the pace of purchases made this week, this effort would represent about 31 more weeks.

Share buybacks despite declining cash reserves

BitMine also continued its share buyback program. It repurchased 3 million shares this week, compared to 4.5 million the previous week. Since July 1, the total reaches 19.1 million shares under a 4 billion dollar authorization. Tom Lee still considers the common shares undervalued and presents this program as the largest ever carried out by a crypto treasury company.

This policy comes despite cash and marketable securities decreasing sharply. BitMine now has 104 million dollars, down from 173 million a week earlier and 482 million on July 12. The decline thus reaches 78% in one month. Since launching its strategy on June 30, 2025, the company buys ETH every week, with varying amounts depending on the periods.

The trajectory will now depend on continued purchases and ETH value evolution. With 4.8% of the supply held, the 5% target remains close but still requires 229,800 ETH. Staking could also strengthen expected revenues, while available cash continues to contract. Finally, Tom Lee also monitors the US monetary environment after lowering the probability of a rate hike in September to 40%, from 75% two weeks earlier. This probability then rose back to 46% according to CME FedWatch. The pace of acquisitions will therefore remain a key indicator to measure progress toward this goal.

BitMine thus pursues an ambitious strategy around Ethereum while managing tighter financial margins. The valuation of its assets will now depend more on market conditions. Between staking yields, share buybacks, and increasing exposure to ETH, the coming months will mainly serve to measure the robustness of this model against crypto market fluctuations.