BitMine Adds 10,399 ETH, Expands Crypto Treasury to $11.3B

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Bitmine Immersion Technologies (NYSE: BMNR) added 10,399 ETH to its treasury this week, bringing total holdings to 5,797,813 ETH, equivalent to 4.8% of Ethereum’s total supply. Combined with 209 Bitcoin, a $180 million stake in Beast Industries, a $61 million stake in Eightco Holdings (NASDAQ: ORBS), and $173 million in cash and marketable securities, the company’s total crypto, cash, and venture holdings stood at $11.3 billion as of August 2, 2026, at 4:00 p.m. ET.

Share Buyback Continues

Bitmine repurchased 4.5 million shares of common stock over the past week, bringing its cumulative buyback since July 1, 2026, to more than 16.1 million shares under a previously authorized $4 billion repurchase program. Chairman Thomas “Tom” Lee said the pace reflects management’s continued view that Bitmine shares are attractively priced. “This is still the largest buyback ever executed by any Ethereum, Bitcoin, or crypto Digital Asset Treasury company,” Lee said, referring to the BitMine stock buyback program.

Staking Operations

As of August 2, 2026, the Bitmine Ethereum treasury had 4,917,189 ETH staked, representing 85% of its total holdings, worth $9.2 billion at $1,880 per ETH. The staked position runs through MAVAN (Made in America Validator Network), Bitmine’s own staking infrastructure for institutional investors. Lee said the fully scaled projected annual staking reward is $291 million, based on a 2.67% seven-day yield; the current annualized run-rate is $247 million.

Total Holdings Value Declined From Last Week

Despite this week’s accumulation, Bitmine’s total reported holdings fell from $11.8 billion last week to $11.3 billion this week.

• The price Bitmine cites for its own ETH holdings fell between the two snapshots, from $1,948 per ETH on July 26 to $1,880 per ETH on August 2, a 3.5% drop measured at those specific reporting times.
• That’s a different window than the 7-day change reported below; ETH fell and partially recovered within the week, and Bitmine’s Tuesday-to-Sunday snapshot comparison captured more of the dip than the rolling weekly figure does.
• Cash and marketable securities fell from $268 million to $173 million, a $95 million decline.

Market Context

Ethereum traded at $1,839.88 as of 12:38 UTC today, down 0.86% over the past 24 hours but up 5.45% over the past week. The cryptocurrency’s market capitalization stood at $222.04 billion, with 24-hour trading volume of $6.29 billion. Circulating and total supply stood at 120.68 million ETH. Separately, Lee said ETH outperformed the Nasdaq 100 by 2,500 basis points in July, the largest margin since July 2025, which he attributed to strengthening fundamentals in crypto markets.

Company Standing

Bitmine ranks as the largest Ethereum treasury globally and the second-largest crypto treasury overall, behind Strategy Inc. (NASDAQ: MSTR). Bitmine’s release cites Strategy’s holdings at 843,775 BTC; Strategy’s most recent SEC filing this week put the figure slightly lower, at 842,138 BTC, after a disclosed bitcoin sale. Bitmine was added to the Russell 1000 index on June 26, 2026, and its Series A Preferred Stock trades on the NYSE under the ticker BMNP. Citing Fundstrat and Statista data, the company said its shares rank 180th among all U.S.-listed stocks by five-day average daily dollar volume, at $698 million.