Bitmine adds 10,452 ETH, repurchases $46 million in shares

Bitmine Immersion Technologies expands its cryptocurrency holdings by acquiring 10,452 ETH, bringing its total treasury to over 6.05 million ETH worth $14.3 billion. Operating as the largest Ethereum treasury firm, Bitmine simultaneously resumes stock repurchases, spending $45.9 million to buy back 2.04 million shares. Chairman Tom Lee maintains a bullish outlook, arguing recent crypto price drops reflect broader market forces while affirming plans to buy stock when undervalued.

Ethereum holdings and acquisition pace

• ▪Bitmine Immersion Technologies reached 4.95% of Ethereum's 122.2 million circulating token supply, leaving the company approximately 58,000 ETH short of its 5% target
• ▪Bitmine Immersion Technologies acquired 10,452 ETH over the week ending October 25, 2026, down from 12,535 ETH the prior week, bringing its total Ethereum stash to 6,051,933 ETH valued at roughly $14.3 billion

Share buyback activity and strategy

• ▪Bitmine Chairman Tom Lee stated that the company executes share buybacks accretively whenever management considers Bitmine's common stock to be relatively undervalued
• ▪Bitmine Immersion Technologies expanded its total 2026 stock repurchases to 22.9 million shares for $399.6 million at an average price of $17.48 per share
• ▪Bitmine Immersion Technologies resumed share buybacks during the week ending October 25, 2026, following a 10-week pause since wrapping up a five-week repurchase stretch on August 17, 2026
• ▪Bitmine Immersion Technologies repurchased 2.04 million shares of its common stock for approximately $45.9 million at an average price of $22.48 per share during the week ending October 25, 2026

Ethereum staking performance and projections

• ▪Bitmine Immersion Technologies has staked 5,227,037 ETH, representing 86% of its total Ethereum holdings, through its MAVAN validator network and third-party partners as of October 25, 2026
• ▪Bitmine Immersion Technologies projects annualized staking revenue of $318 million from its active staked ETH, with potential earnings reaching $368 million if all holdings were staked

Total treasury reserves and asset breakdown

• ▪Bitmine Immersion Technologies reported total holdings of $15 billion as of October 25, 2026, down from $15.1 billion reported a week earlier
• ▪Bitmine Immersion Technologies held 215 Bitcoin, $514 million in cash and marketable securities, a $180 million stake in Beast Industries, and $76 million in Eightco Holdings as of October 25, 2026

Tom Lee on market conditions

• ▪Bitmine Chairman Tom Lee stated that recent price pullbacks across cryptocurrency markets offer further evidence that a crypto bull market is currently underway
• ▪Bitmine Chairman Tom Lee attributed ETH's 13% price drop to market-wide risk-off pressures, comparing it against a 20% decline in U.S. semiconductor stocks over the same timeframe

Tom Lee on Bitmine strategy

• ▪Bitmine Chairman Tom Lee stated that Bitmine has purchased Ethereum every week since launching its ether treasury strategy on June 30, 2025
• ▪Bitmine Chairman Tom Lee described the company's 2026 stock repurchases as the largest common equity buyback ever executed by a crypto treasury firm