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BitMine increased its holdings by 10,399 ETH, expanding its crypto asset reserves to US$11.3 billion

2026-08-04 00:35:44
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Bitmine Immersion Technology (NYSE: BMNR) added 10,399 ETH to its vault this week, bringing its total holdings to 5,797,813 ETH, equivalent to 4.8% of Ethereum's total supply. Add in 209 bitcoins, a $180 million stake in Beast Industries, a $61 million stake in Eightco Holdings (NASDAQ: ORBS), and $173 million in cash and marketable securities, as of 4:00 p.m. EST on August 2, 2026, the company's total value of cryptocurrency, cash and venture capital holdings was $11.3 billion. 1/BitMine provided its latest holdings update for August 3, 2026 $11.3 billion in total crypto +"moonshots": -55,797,813 ETH at $1, 880 per ETH per ETH (per@coinbase)-209 Bitcoin (BTC)-$180 million stake in Beast Industries@MrBeast-$61 million stake in Eightco… - Bitmine (NYSE-BMNR) $ETH (@BitMNR)August 3, 2026

Share repurchase continues

Bitmine repurchased 4.5 million ordinary shares last week, This has brought its cumulative repurchase volume to more than 16.1 million shares since July 1, 2026, which is part of a previously authorized $4 billion repurchase program. Chairman Tom Lee said the speed of the buyback reflects management's continued belief that Bitmine's share price is undervalued. "This remains the largest repurchase ever executed by any Ethereum, Bitcoin or cryptocurrency digital asset reserve company," Lee said of Bitmine's share repurchase program.

Pledge Business

As of August 2, 2026, 4,917,189 ETH items were pledged in Bitmine's Ethereum vault, accounting for 85% of its total holdings, valued at US$9.2 billion based on US$1,880 per ETH. Pledges are made through MAVAN (American Manufacturing Verifier Network), a pledge infrastructure created by Bitmine specifically for institutional investors. Lee said that based on a seven-day yield of 2.67%, the fully expanded expected annualized pledge reward is US$291 million; the current annualized operating rate is US$247 million.

Total holding value fell from last week

Despite the increase this week, Bitmine reported total holding value falling from $11.8 billion last week to $11.3 billion this week. The price quoted by Bitmine for its own ETH holdings dropped from US$1,948 per ETH on July 26 to US$1,880 per ETH on August 2 between two statistical time points, a decrease of 3.5% measured at these specific reporting time points. This is different from the seven-day window of change reported below;ETH partially recovered after falling during the week, while Bitmine's Tuesday-to-Sunday snapshot comparison captured a larger decline than the rolling weekly data. Cash and marketable securities fell by $95 million from $268 million to $173 million.

Market Background

As of 12:38 UTC today, Ethereum was trading at US$1,839.88, down 0.86% in the past 24 hours, but up 5.45% in the past week. The market value of the cryptocurrency is US$222.04 billion, and the 24-hour trading volume is US$6.29 billion. The circulation supply and total supply were 120.68 million ETH. Separately, Lee said that ETH outperformed the Nasdaq 100 Index by 2500 basis points in July, the largest since July 2025, which he attributed to strengthening fundamentals in the cryptocurrency market.

Company Status

Bitmine is the world's largest Ethereum vault and the second largest cryptocurrency vault overall, behind Strategy Inc. (Nasdaq: MSTR). Bitmine's announcement cited Strategy holding 843,775 BTC;Strategy's latest filing with the U.S. Securities and Exchange Commission this week showed that the figure was slightly lower at 842,138 BTC after disclosing a Bitcoin sale. Bitmine was included in the Russell 1000 Index on June 26, 2026, and its Series A preferred shares are listed on the New York Stock Exchange under the symbol BMNP. Citing data from Fundstrat and Statista, the company said its stock ranks 180th among all U.S. listed stocks based on a five-day average daily transaction volume, with a transaction volume of $698 million.

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