Bitmine purchased 9,946 ETH, bringing its Ethereum holdings to 5.79 million ETH, valued at about $11.3 billion.

The company also expanded share repurchases to 11.6 million shares while continuing weekly Ethereum purchases since June 2025.

Bitmine has staked 85% of its ETH holdings and said annualized staking rewards could reach as much as $299 million.

Bitmine Immersion Technologies said it bought another 9,946 ETH over the past week, increasing its total crypto, cash, and investment holdings to $11.8 billion. The company said the latest purchase extends its weekly Ethereum buying streak that began after it launched its ETH Treasury Strategy on June 30, 2025. The update also included larger stock repurchases and expanded staking activity, underscoring how the company is tying its treasury, capital-return, and staking plans together in a single balance-sheet strategy.

Ethereum Holdings Continue to Grow

According to Bitmine, its treasury now holds 5,787,414 ETH, worth about $11.3 billion using Coinbase's quoted price of $1,948 per ETH. The company also holds 208 Bitcoin, along with $268 million in cash and marketable securities.

The portfolio additionally includes a $180 million stake in Beast Industries and a $61 million investment in Eightco Holdings. Bitmine said these positions help bring its reported holdings to $11.8 billion in total.

The company said its Ethereum balance represents about 4.8% of the network's 120.7 million ETH supply. Chairman Tom Lee said Bitmine has added Ethereum every week since introducing its treasury strategy last year, making the pace of accumulation a central feature of the company’s current profile.

Share Buybacks and Price Levels

Alongside the latest ETH purchase, Bitmine increased its common stock repurchases. The company bought back 6.1 million shares during the past week, after repurchasing 5.5 million shares the week before.

Lee said Bitmine has repurchased 11.6 million shares since July 1, 2026, under its previously authorized $4 billion buyback program. He said the company increased repurchases after the ETH-to-Bitcoin ratio reached a three-month high, even as expectations for the Clarity Act in 2026 declined.

Lee also said Ethereum recently reached a 10-week high. He added that advisor Tom DeMark of DeMark Analytics identified $2,000 and $2,500 as near-term price levels if current comparisons continue.

Staking Operations Expand Through MAVAN

Earlier this year, Bitmine launched the Made in American VAlidator Network, or MAVAN, to support institutional Ethereum staking. According to the company, 4,917,189 ETH, or about 85% of its holdings, are already staked.

Bitmine projected annualized staking rewards of $299 million once all Ethereum moves onto MAVAN and partner platforms. The company also estimated current annualized staking revenue at $254 million, based on a 2.65% seven-day staking yield.