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Bitmine purchased another 10,000 ETH units, accounting for 4.8% of its position

2026-08-04 12:26:26

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Bitmine Immersion Technologies once again increased its holdings of 10,399 Ethereum (ETH) units in the week ended August 3, and its current ETH holdings account for 4.8% of the total circulation. After this increase, its total position reached 5,797,813 ETH. Based on approximately US$1,840 each, the position is worth approximately US$10.9 billion.

Since implementing the Ethereum reserve strategy in June 2025, the company has continued to buy ETH every week. The latest purchase volume is approximately 9,946 ETH units, which is similar to the previous week. Currently, Bitmine is 96% short of its target of 5% of the total ETH circulation (120.7 million units).

ETH outperformed the Nasdaq 100 by 2,500 basis points

Chairman Tom Lee attributed continued buying to ETH's performance in July. He said ETH outperformed the Nasdaq 100 index by 2,500 basis points last month, calling it the asset's largest monthly advantage over the index since July 2025. Lee pointed out that after ETH last showed a similar strong performance, the asset climbed from about $2,375 to more than $4,000 in the following month. He also mentioned that historically ETH's strong performance against stocks often preceded the rise in Bitmine's own share price. "In July, ETH outperformed the Nasdaq 100 Index by 2,500 basis points," Lee said in the company statement."We believe this reflects the strengthening fundamentals of the crypto market."

Pledge gains and share buybacks

Of the total 5,797,813 ETH held, 4,917,189 were pledged through Bitmine's MAVAN platform and external pledge partners. These pledged positions are worth approximately US$9.2 billion. The company expects the position to generate approximately $247 million in pledge income annually. Bitmine also bought back 4.5 million shares of its own common stock in the same week. Since July 1, the total repurchase volume has reached 16.1 million shares under the $4 billion repurchase program approved earlier this year. Lee said the company took action because it believed the current share price was attractive.

In addition to ETH, Bitmine also holds 209 bitcoins (BTC), as well as a $180 million stake in Beast Industries and a $61 million stake in Eightco Holdings. The company also reported holding $173 million in cash and marketable securities. As of August 2, 2026, its total assets reached US$11.3 billion.

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