Bitmine Immersion Technologies Sharply Reduces Ethereum Purchases to 7,430 ETH, Redirects $86 Million to Stock Buyback

Bitmine Immersion Technologies added 7,430 ETH during the week ending July 19, 2026, worth approximately $14 million at the then-current market price and representing one of its smallest weekly purchases since launching its Ethereum treasury strategy. Chairman Tom Lee said the reduced purchasing pace reflected the company’s repurchase of approximately 5.5 million common shares for nearly $86 million at an average price of $15.6156 under its authorized $4 billion buyback program. Bitmine reported total holdings of 5,777,468 ETH, equivalent to approximately 4.8% of Ethereum’s circulating supply and 96% of the way toward its stated target of holding 5%.

Bitmine ETH purchase reduction

• ▪The purchase of 7,430 Ethereum represents one of the smallest weekly acquisitions for Bitmine Immersion Technologies since launching its Ethereum treasury strategy in June 2025.
• ▪Bitmine Immersion Technologies added 7,430 ETH during the week ending July 19, 2026, worth approximately $14 million at the then-current market price of about $1,879 per ETH.

Stock buyback program

• ▪Bitmine Immersion Technologies repurchased its common shares at an average price of $15.6156 per share.
• ▪Bitmine Immersion Technologies repurchased approximately 5.5 million common shares for nearly $86 million under its authorized stock buyback program.
• ▪Bitmine Immersion Technologies expanded its authorized share repurchase program from $1 billion to $4 billion in April 2026.

Ethereum treasury holdings

• ▪According to Bitmine’s company update, it is the largest corporate holder of Ethereum globally and the second-largest corporate digital asset treasury behind Strategy.
• ▪Bitmine Immersion Technologies holds 5,777,468 Ethereum, representing approximately 4.8% of Ethereum's total circulating supply of 120.7 million tokens.

Five percent supply target

• ▪Bitmine Immersion Technologies is aiming to own 5% of Ethereum's total circulating supply, a goal the company refers to as its 'alchemy of 5%' target.
• ▪Bitmine Immersion Technologies is 96% of the way toward its target of owning 5% of Ethereum's circulating supply.

Bitmine financial position

• ▪Bitmine Immersion Technologies holds 207 Bitcoin, a $180 million stake in Beast Industries, a $58 million stake in Eightco Holdings, and $385 million in cash and marketable securities.
• ▪Bitmine Immersion Technologies reported that its cryptocurrency, cash, marketable securities, and disclosed equity investments totaled approximately $11.5 billion as of July 19, 2026.

Ethereum staking revenue

• ▪Bitmine Immersion Technologies said it had staked approximately 4.92 million ETH, representing about 85% of its holdings, through its MAVAN validator platform and other staking partners.
• ▪Bitmine Immersion Technologies projects its staked Ethereum position will generate approximately $247 million in annualized revenue based on a 2.67% seven-day yield.
• ▪Staking and validation operations generated $45.7 million for Bitmine Immersion Technologies during the quarter ended May 31, 2026, accounting for 98% of its total quarterly revenue.