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Bitmine slows ETH purchases, boosts stock buyback as stake nears 5%

Bitmine bought 7,430 ether in the past week, taking its holdings to 5,777,468 ETH, and repurchased about 5.5 million shares under its $4 billion program.

Reported · Written up by our desk · Ethereum

Bitmine Immersion Technologies slowed its weekly ether purchases after shifting more capital to a share repurchase, according to a company press release issued July 20. The firm acquired 7,430 ETH over the prior week, its smallest weekly purchase since launching its ETH treasury strategy. That increased its total holdings to 5,777,468 ETH, which the company said is worth roughly $10.9 billion based on the $1,879 ETH price cited in the release. Bitmine also said the stake puts it 96% of the way to its 5% goal of controlling all ether, marketed as its “Alchemy of 5%.”

Alongside the reduced buying pace, Bitmine repurchased approximately 5.5 million common shares over the past week at an average price of $15.6156. The buyback was executed under a previously authorized $4 billion share repurchase program, and the company said it views the share purchases as accretive to shareholder value.

Bitmine said the reduction in ETH buys reflects that it has repurchased shares, noting it had bought ETH every week since the ETH treasury strategy began on June 30, 2025. In addition, Bitmine reported total holdings of $11.5 billion as of July 19, including 207 bitcoin, $385 million in cash and marketable securities, and staked ether that represents about 85% of its ETH stack, with projected annualized staking revenue of roughly $247 million at a 2.67% seven-day yield.

Latest closeBitcoin $65,447.74 ▲1.2%|Ethereum $1,924.45 ▲2.8%

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