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Bitmine bought 10,399 ETH and added to stock buybacks

The latest ETH purchase was about $19.1 million at current prices and followed weekly buys since Bitmine adopted its Ethereum treasury strategy in June 2025.

Reported · Written up by our desk · Ethereum

CoinDesk reports Bitmine, led by Chairman Tom Lee, bought 10,399 ether (ETH) last week as part of its Ethereum treasury strategy. At current prices, the purchase was worth about $19.1 million, lifting Bitmine’s ETH holdings to nearly 5.8 million.

CoinDesk also said the company repurchased 4.5 million shares of its common stock last week, taking total recent repurchases to 16 million shares. Bitmine Immersion (BMNR), described as the largest Ethereum treasury company, said the acquisition was broadly in line with the prior week’s 9,946 ETH buy.

In remarks tied to the company update, Tom Lee pointed to ether’s performance versus the Nasdaq as a signal of improving crypto fundamentals. CoinDesk reported that he cited July as ETH’s strongest monthly outperformance versus the Nasdaq in a year, stating it beat the Nasdaq 100 by 2,500 basis points.

CoinDesk further reported that Bitmine’s crypto, cash and marketable securities totaled $11.3 billion as of August 2. The update also referenced that Strategy (MSTR) disclosed another bitcoin sale during the period, while Strategy repurchased stock and raised additional capital through common share sales.

Latest closeBitcoin $63,780.28 ▲0.5%|Ethereum $1,864.81 ▼0.9%|Nasdaq Comp. 25,373.85 ▲1.0%

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