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ETH Summary
Tom Lee emphasized that as Bitmine expanded its Ethereum reserves to 5.8 million units, its performance hit a record high against the Nasdaq index, further consolidating its long-term holding strategy.
Bitmine pledged 4.9 million Ethereum units through partners, with a target annualized pledge revenue of approximately US$247 million, while maintaining exposure to Ethereum.
The scale of stock repurchases reached 16.1 million shares, and total cryptocurrency holdings and investments climbed to US$11.3 billion, making Bitmine's balance sheet more stable.
Bitmine Chairman Tom Lee
Tom Lee pointed out that Ethereum's monthly performance against the Nasdaq 100 Index in July hit its strongest record since July 2025, while the company has expanded its Ethereum reserves to 5,797,813 units.
According to Lee, Ethereum outperformed the technology index by 2500 basis points in July, further strengthening Bitmine's long-term commitment to digital assets and its reserve strategy.
Ethereum's excellent performance consolidates Bitmine's strategy
Lee said Ethereum's performance in July hit its largest monthly advantage over the Nasdaq 100 in a year. Citing the results, he reiterated Bitmine's belief that Ethereum remains a core asset in the company's long-term investment strategy.
Bitmine also disclosed that 10,399 new Ethereum units were added in the past week. As a result, its total holdings of Ethereum reached 5,797,813 units, accounting for approximately 4.8% of Ethereum's circulating supply.
Based on an estimated market price of approximately $1,880 per Ethereum, the reserve is worth approximately $10.9 billion. In addition, Bitmine has achieved approximately 96% of its publicly stated goal of holding 5% of Ethereum's total supply.
In addition to expanding its holdings, the company also uses most of Ethereum for collateral. Bitmine revealed that 4,917,189 Ethereum units (worth approximately US$9.2 billion) have been pledged through its MAVAN platform and multiple pledge partners.
The company estimates that these pledge activities will generate nearly US$247 million in annual revenue. Therefore, Bitmine expects to enhance reserve returns while maintaining long-term exposure to Ethereum.
Share Buybacks and Investments Expand Reserve Positions
Lee also disclosed that Bitmine had repurchased 4.5 million shares of common stock in the past week because management considered the stock's valuation attractive. As a result, since July 1, the total repurchase volume has reached 16.1 million shares under the company's previously authorized US$4 billion repurchase program.
In addition to Taifang, Bitmine reported holding 209 bitcoins, as well as $180 million in equity in Beast Industries,$61 million in investments from Eightco Holdings, and $173 million in cash and marketable securities. Cryptocurrency holdings, investments, cash and marketable securities total approximately US$11.3 billion, further consolidating Bitmine's position among listed companies with large reserves of digital assets.
Although Ethereum prices fell 5.23% in the past 24 hours and were still trading above $1,800 on Monday, Lee's comments focused on the long-term superior performance of cryptocurrencies rather than short-term price fluctuations.
Bitmine's latest disclosure shows that the company is still focused on expanding its Ethereum exposure while generating additional revenue through collateral. This update also reflects management's confidence in supporting the strategy through share buybacks and diversified digital asset portfolios.
