Bitmine Boosts Ethereum Holdings to Nearly 5.8 Million Tokens

Bitmine, the largest Ethereum treasury company, continued its aggressive acquisition strategy in July by purchasing $19.1 million worth of ETH, bringing its total holdings to nearly 5.8 million tokens. This purchase is consistent with Bitmine's streak of weekly acquisitions since June 2025 and marks a significant increase in its treasury.

The company also repurchased 4.5 million shares of its own common stock, adding to the 11.3 billion total crypto assets it holds. Chairman Tom Lee cited the relative performance of ETH against technology stocks as the reasoning behind this move, noting that ETH outperformed the Nasdaq 100 by 2,500 basis points in July, the largest margin since July 2025.

'It is the largest gap since July 2025, and we believe it reflects the strengthening fundamentals of the crypto market,' Lee stated. The chairman also recalled that similar performances by ETH have historically preceded gains in Bitmine's stock. With its assets reaching $11.3 billion as of August 2, including 209 bitcoin and equity stakes in Beast Industries and Eightco Holdings, Bitmine continues to solidify its position as a major player in the crypto market.