Bitmine's ETH Holdings Surge Past $10B as Tom Lee Cites July Performance

Bitmine Immersion Technologies has significantly increased its Ethereum (ETH) treasury after purchasing an additional 10,399 tokens during the week ending August 3. This brings its total holdings to 5,797,813 ETH, worth approximately $10.9 billion at a price of around $1,840 per token.

This purchase is part of Bitmine's Ethereum treasury strategy, which it adopted in June 2025. Since then, the company has bought ETH every week, with this latest purchase being close in size to the 9,946 ETH acquired the week before.

Bitmine now holds a substantial 4.8% of all Ethereum in circulation, and is 96% of the way towards its goal of holding 5% of ETH's 120.7 million-token circulating supply.

The company's Chairman, Tom Lee, attributed this continued buying to Ethereum's performance in July. He stated that 'Ethereum beat the Nasdaq 100 by 2,500 basis points last month', which is its largest monthly margin over the index since July 2025.