Bitmine Immersion Technologies said its Ether (ETH) holdings reached 4.95% of the supply figure it used on Oct. 25, with most of the balance staked as it neared its stated 5% treasury target.
The Oct. 26 company release, attached as Exhibit 99.1 to its Form 8-K, put the balance at 6,051,933 ETH in a snapshot taken at 2 p.m. ET (18:00 UTC) on Oct. 25. Bitmine used a price of $2,356 per ETH and compared its holdings with a 122.2 million ETH supply figure. It said the balance represented 99% of its 5% goal.
Bitmine said 5,227,037 ETH were staked, equal to 86% of its holdings. At the company’s $2,356 reference price, the staked balance was valued at $12.3 billion. EconoTimes previously covered the reported value of Bitmine’s staked Ether.
The company put its combined crypto, cash, marketable securities and “moonshot” investments at $15 billion. Alongside the ETH, the reported portfolio included 215 Bitcoin (BTC), $514 million in cash and marketable securities, a $180 million stake in Beast Industries and a $76 million stake in Eightco Holdings. The $15 billion total therefore included cash and equity stakes as well as digital assets.
Chairman Thomas “Tom” Lee said Bitmine added 10,452 ETH during the latest week. Bitmine says it has made weekly ETH purchases since launching its treasury strategy on June 30, 2025.
The company also reported repurchasing 2.04 million shares during the week at an average price of $22.48. Bitmine put its 2026 buyback total at $399.6 million, covering 22.9 million common shares at a reported average price of $17.48.
Lee said Bitmine intends to repurchase shares when management considers them relatively undervalued, subject to market conditions and the existing authorization. He has described the buyback program as an effort to optimize shareholder value.
