Nikolas Sargeant
TL;DR
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BitMine purchased 7,430 ETH last week, one of its smallest weekly acquisitions since launching its Ethereum treasury strategy.
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The company slowed purchases after allocating capital to repurchase 5.5 million shares under its $4 billion buyback program.
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BitMine now holds 5.78 million ETH, representing about 4.8% of Ethereum's circulating supply.
BitMine, the world's largest corporate holder of Ethereum, significantly reduced its weekly ETH purchases as the company shifted capital toward a major share repurchase program.
According to a company update released on Monday, BitMine acquired 7,430 ETH over the past week—worth roughly $14 million at current market prices—bringing its total Ethereum holdings to 5.78 million ETH.
The latest purchase leaves the company controlling approximately 4.8% of Ethereum's circulating supply, bringing it closer to its stated goal of accumulating 5% of all ETH in circulation.
Shares of BitMine (BMNR) rose around 2.4% in pre-market trading following the announcement.
Share Buyback Slows ETH Accumulation
The latest acquisition marks one of BitMine's smallest weekly Ethereum purchases since the company launched its ETH treasury strategy in June 2025.
Earlier this year, BitMine regularly acquired tens of thousands of ETH each week. In one week alone during May, the company purchased more than 111,000 ETH, highlighting the sharp slowdown in recent buying activity.
Chairman Thomas "Tom" Lee said the reduced pace reflects the company's decision to prioritize its ongoing stock repurchase program.
According to Lee, BitMine bought back approximately 5.5 million common shares at an average price of $15.62 per share under its previously approved $4 billion buyback authorization.
"The reduced pace of buys reflects that BitMine repurchased 5.5 million common shares," Lee said, adding that the company has continued purchasing Ethereum every week since adopting its treasury strategy more than a year ago.
Despite the temporary slowdown in purchases, Ethereum continues to dominate BitMine's balance sheet.
As of Sunday, the company's total treasury was valued at approximately $11.5 billion.
In addition to its Ethereum holdings, BitMine reported owning 207 Bitcoin (BTC), $385 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $58 million stake in Eightco Holdings
Staking Generates Recurring Revenue
BitMine continues to earn yield from its Ethereum treasury through staking. The company said it has staked approximately 4.92 million ETH, representing around 85% of its total holdings, through its MAVAN staking platform.
Based on current staking returns, BitMine projects annualized staking revenue of approximately $247 million, providing an additional income stream alongside the appreciation of its ETH holdings.
