BitMine Technologies slowed the pace of its Ethereum purchases last week after redirecting capital towards an $86 million share buyback programme. The company acquired 7,430 ETH, one of its smallest weekly purchases since adopting its Ethereum treasury strategy, while repurchasing around 5.5 million common shares. Despite the slower buying, BitMine remains the world’s largest corporate Ethereum holder, with total holdings of about 5.78 million ETH, representing nearly 4.8% of Ethereum’s circulating supply.
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BitMine provided its latest holdings update for July 20, 2026$11.5 billion in total crypto + “moonshots”:
– 5,777,468 ETH at $1,879 per ETH per ETH (per @coinbase)
– 207 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $58 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) July 20, 2026
The latest Ethereum purchase was valued at approximately $14 million and lifted the company’s crypto treasury to around $11.5 billion. The holdings also include 207 Bitcoin, $385 million in cash and marketable securities, along with investments in Beast Industries and Eightco Holdings.
Chairman Tom Lee said the slower pace of Ethereum accumulation was directly linked to the company’s decision to repurchase shares under its previously authorised $4 billion buyback programme. According to Lee, BitMine has continued purchasing Ethereum every week since launching its treasury strategy more than a year ago.
The latest purchase is significantly smaller than earlier acquisitions. In previous months, the company regularly bought tens of thousands of ETH each week, including one week in May when it acquired more than 111,000 ETH. BitMine has previously indicated that it aims to eventually control around 5% of Ethereum’s total circulating supply.
Beyond holding Ethereum, BitMine is also generating substantial staking income. The company has staked around 4.92 million ETH, representing roughly 85% of its holdings, through its MAVAN staking platform. Based on current estimates, the staking programme is expected to generate annualised revenue of about $247 million.
The company’s latest update illustrates how corporate crypto treasury strategies are evolving. Rather than focusing solely on acquiring more digital assets, firms are increasingly balancing token purchases with broader capital allocation decisions such as share buybacks, cash management and income generation through staking.
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