Bitmine Boosts Ethereum Holdings to 4.8% of Total Supply

Bitmine has continued its aggressive Ethereum (ETH) buying strategy, adding 10,399 tokens to its treasury in the week ending August 3. This purchase brings the company's total ETH holdings to 5,797,813 tokens, worth approximately $10.9 billion at current prices.

The company now controls 4.8% of all ETH in circulation and is on track to meet its goal of holding 5% of the circulating supply. Bitmine has been buying ETH every week since adopting this strategy in June 2025.

According to Chairman Tom Lee, Ethereum outperformed the Nasdaq 100 by 2,500 basis points in July, with a strong reading that historically precedes gains in Bitmine's own stock price and staking revenue. The company currently holds 4,917,189 tokens staked through its MAVAN platform and external partners.

Bitmine also repurchased 4.5 million of its own common shares during the same week as part of a $4 billion buyback program authorized earlier this year.