Bitmine Reaches Milestone in Ethereum Holdings, Continues Share Repurchases

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.81 million tokens, representing approximately $11 billion at a price of $1,928 per token. This milestone marks significant progress toward the company's goal of acquiring 5% of the total ETH supply.

The company's Bitcoin and Ethereum network operations have been successful, with its ETH holdings now comprising 4.8% of the total ETH supply of 120.7 million tokens. Bitmine is 96% of the way to achieving the 'Alchemy of 5%' in just 14 months.

In July, Ethereum outperformed the Nasdaq 100 by 2,500 basis points, a significant indicator of the strengthening fundamentals of cryptocurrency. Bitmine has repurchased 3 million common stock shares in the past week and over 19 million shares cumulatively since July 2026 under its previously announced $4 billion share repurchase program.

Thomas 'Tom' Lee, Chairman of Bitmine, stated that financial markets seem more focused on recent softer inflation and jobs data. He believes that easing financial conditions will be a tailwind for cryptocurrency.