Bitmine Immersion Technologies, Inc. added 10,452 Ether (ETH) and repurchased 2.04 million shares over the past week, bringing its Ether holdings closer to its 5% supply target.
In an Oct. 26 Form 8-K exhibit, Bitmine reported holding 6,051,933 ETH as of Oct. 25 at 2 p.m. ET. Using its stated supply figure of 122.2 million ETH, the company calculated that it held 4.95% of supply, putting it 99% of the way to its goal.
The balance rose from 6,041,481 ETH reported on Oct. 18. Bitmine bought less Ether in the latest week than in the preceding one, when it reported acquiring 12,535 ETH. The company said it has made weekly purchases since beginning its Ether treasury strategy on June 30, 2025.
The filing put Bitmine's 2026 share repurchases at $399.6 million, covering 22.9 million shares bought at an average price of $17.48. The latest week accounted for 2.04 million shares at an average of $22.48.
Bitmine Chairman Thomas “Tom” Lee tied further repurchases to management's assessment of the stock's value, market conditions and the company's existing authorization. “Optimizing shareholder value remains our top objective,” Lee said.
Bitmine also reported 5,227,037 ETH staked as of Oct. 25. It valued those holdings at $12.3 billion using a Coinbase reference price of $2,356 per ETH. The company estimated annualized staking revenue of $318 million based on roughly 5.2 million ETH staked; that figure is a projection, not revenue already earned.
Beyond Ether, Bitmine listed 215 Bitcoin (BTC), $514 million in cash and marketable securities, a $180 million investment in Beast Industries and a $76 million investment in Eightco Holdings. It valued its combined crypto holdings, cash, securities and other investments at $15 billion at the Oct. 25 snapshot.
