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BTC 
ETH Bitmine Immersion Technologies increased its holdings of 10,399 Ethereum units last week. Chairman Tom Lee pointed out that the cryptocurrency outperformed the Nasdaq 100 Index by 25 percentage points in July
Points
Bitmine holds 5,797,813 ETH units, accounting for 4.8% of total supply, reaching 96% of its 5% accumulation target.
The company has pledged 4,917,189 ETH units. Valued at US$9.2 billion and expected annual pledge income of US$247 million
Management believes the stock valuation is attractive and bought back 4.5 million shares of
Bitmine Ethereum Treasury
The company disclosed the purchase on Monday, August 3, increasing its treasury holdings to 5,797,813 ETH. This is equivalent to 4.8% of the total supply of Ethereum's 120.7 million pieces.
At US$1,880 each, Bitmine's Ethereum position is worth approximately US$10.9 billion, making it the largest holder of corporate Ethereum and the second-largest holder in the overall corporate cryptocurrency treasury. Strategy still ranks first with a $57 billion Bitcoin position.
Bitmine said it has pledged 4,917,189 ETH units worth US$9.2 billion through its MAVAN platform and pledge partners, with expected annual revenue of US$247 million. Its reported assets also include 209 bitcoins,$173 million in cash and securities, a $180 million investment in Beast Industries and a $61 million investment in Eightco Holdings. The total consolidated assets held reached US$11.3 billion.
Tom Lee Outlook
Lee pointed out that Ethereum outperformed the Nasdaq 100 index by 250 basis points in July, setting its largest monthly advantage over the index since July 2025. Ethereum traded above $1,800 on Monday, but fell 5.23% in 24 hours.
Bitmine bought back 4.5 million shares of common stock last week, bringing the total repurchase volume since July 1 to 16.1 million shares, and management believes the stock is valued at an attractive value. The repurchase program has a total authorization of up to $4 billion. The company is currently 96% away from its stated goal of controlling 5% of the total supply of 120.7 million Ethereum units.
This strategy combines token accumulation, pledge income and stock repurchase. Since adopting the Ethereum treasury strategy on June 30, 2025, Bitmine has bought Ethereum every week. Lee pointed out that Ethereum rose from $2,375 in July 2025 to $4,057 at the end of August.
