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BTC 
ETH Ethereum reserve company Bitmine Immersion Technologies announced on Monday that it had purchased 7,391 ETH units worth approximately US$14 million in the past week, reaching 5,805,238 ETH units as of Friday night. The company purchased 10,399 ETH units the previous week.
The total value of the company's cryptocurrency holdings, cash and so-called "high-risk, high-return" investments increased from US$11.3 billion to US$11.6 billion. Most of this growth stems from price changes: ETH rose 2.6% during the week to $1,928, increasing the value of positions by approximately $280 million, while actual purchases increased by only $14 million.
The company's cash position continues to tighten, with cash and marketable securities falling to US$104 million from US$173 million reported a week ago, a sharp decline from the US$482 million reported on July 12-a decrease of 78% in one month. In addition to ETH, Bitmine also holds 209 bitcoins, a $180 million investment in Beast Industries and a $89 million stake in Eightco Holdings.
Bitmine repurchased 3 million shares last week (down from 4.5 million shares the previous week), bringing it to a cumulative 19.1 million shares under a $4 billion authorization since July 1. Chairman Tom Lee said the company "continues to believe Bitmine's common stock is undervalued" and called it the largest repurchase program implemented by any cryptocurrency reserve company.
Pledges currently cover 5,067,309 ETH items, accounting for 87% of total positions, up from 85% a week ago. Based on a seven-day yield of 2.63%, Lee expects annualized pledge revenue to reach US$257 million.
Bitmine's position accounts for 4.8% of Ethereum's total supply of 120.7 million units. The company once again said it has achieved 96% of the "5% alchemy" target, the same as a week ago, and has maintained the level of 4.8% for five consecutive weeks. About 229,800 ETH will be needed to reach the 5% target, which will take approximately 31 weeks at last week's rate.
The company has been buying ETH every week since the strategy was launched on June 30, 2025. During what Lee called a "superficial" sell-off in June, it purchased US$214 million worth of ETH; in July, it increased its holdings by US$49 million due to early demand for Robinhood Chain, and then slowed down later that month, eventually exceeding 5.79 million ETH.
Lee expressed "disappointment" that the Transparency Act failed to be submitted to the Senate for a vote before the August recess, but noted that inflation and employment data have moderated, lowering the possibility of a Fed rate hike in September to 40% from 75% two weeks ago. According to CME FedWatch data, the probability has now rebounded to 46%.
