Bitmine Buys 9,946 Ether, Lifting Holdings to 5,787,414 Tokens

Bitmine said it bought 9,946 Ether over the past week, lifting its Ether holdings to 5,787,414 tokens, equal to 4.8% of total supply.

“Bitmine said it bought an additional 9,946 Ether over the past week.”

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CoinDesk reported the purchase lifted Bitmine’s holdings to 5.79 million ETH ($11.2 billion), or about 4.8% of ether’s circulating supply, as it pursues a long-term goal of owning 5%.

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The company’s latest move came as it expanded its stock buyback, with CoinDesk saying Bitmine bought back 6.1 million shares under its $4 billion buyback authorization.

CoinDesk also said Chairman Tom Lee cited ether’s outperformance of bitcoin and a three-month high in the ETH/BTC ratio, alongside ETH’s 24% monthly gain and recent price recovery, as signs of strengthening crypto market sentiment.

In a separate update, PR Newswire said Bitmine’s crypto holdings were comprised of 5,787,414 ETH at $1,948 per ETH as of July 26, and that Bitmine owns 4.8% of the total ETH coin supply of 120.7 million.

CoinDesk quoted Tom Lee saying, "We view the rising ETH/BTC ratio, despite the falling odds of passage of the CLARITY Act in 2026, as a sign crypto prices are strengthening," and said the ratio was at a three-month high at 0.3000.

Cointelegraph added that Bitmine disclosed about 4.9 million ETH, or roughly 85% of its holdings, are staked through its validator operations, and said the company projected annualized staking rewards of about $299 million once all of its Ether is deployed.

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Cointelegraph also said Bitmine Immersion Technologies said Monday it holds 5.79 million Ether, or about 4.8% of the cryptocurrency’s total supply, after purchasing nearly 10,000 ETH over the past week.

CoinDesk tied the bullish read to ether’s relative strength, saying ETH has gained about 24% monthly while outperforming bitcoin’s 8% gain in the CoinDesk 20 index over the past month.

Cointelegraph reported that ETH has gained about 2.4% over the past seven days while Bitcoin has fallen roughly 0.7%, according to CoinGeckodata.

CoinDesk reported that Bitmine’s ETH buying slowed as it shifted capital toward share buybacks, saying the firm bought just 7,391 ether last week, its smallest weekly haul in 2026.

“Bitmine’s ETH buying slows as Tom Lee's firm shifts capital to share buybacks”

@coindesk

CoinDesk said Chairman Tom Lee pointed to softer inflation and jobs data as a potential tailwind for crypto, even as the CLARITY Act failed to reach a Senate vote before the August recess.

In the same update, CoinDesk quoted Lee: "We are disappointed that the CLARITY Act will not see a Senate vote before the August recess, but financial markets seem more focused on the recent softer inflation and jobs data," and said the odds of a Federal Reserve rate hike at the next meeting in September had fallen to 40% from 75% two weeks ago.

CoinDesk said Bitmine repurchased 3 million shares last week, and that since July the firm has bought back 19.1 million of its own shares.

TechStock² reported that Bitmine climbed 12.8% to $17.81 as of 9:50 a.m. EDT after the increase in its buyback program and a further addition of ether holdings, and said the company also bought back 6.1 million shares.