Ethereum treasury firm Bitmine Immersion, led by chairman Tom Lee, added 7,391 ETH last week as its pace of Ethereum buying slowed. At the same time, the company continued its share buyback programme, repurchasing 3 million BMNR shares. The latest ETH purchase took Bitmine’s holdings to more than 5.8 million ETH, while the share buyback showed that the firm is increasingly using capital to support its stock.
The 7,391 ETH purchase was worth about $14.2 million at the time of the report. Bitmine now holds around 4.8% of Ethereum’s total supply and is about 96% of the way towards its target of owning 5% of all ETH.
The latest purchase also extended Bitmine’s weekly Ethereum buying streak to 58 weeks. However, the size of the purchase was significantly smaller than the company’s acquisitions earlier this year, when it was buying more than 100,000 ETH in some weeks. Lee had previously said that Bitmine would slow its accumulation as it moved closer to its 5% ownership target.
The company is now putting greater focus on its own shares. Bitmine bought back 3 million BMNR shares last week. Based on the stock’s trading range during the period, the purchase would have cost roughly $50 million to $58 million. Since July, the company has repurchased 19.1 million shares under its $4 billion buyback programme.
Bitmine also reported that 5,067,309 ETH, or about 87% of its Ethereum holdings, is currently staked. The company estimates that its staking operations could generate around $194 million in annualised rewards. Its reported seven-day BMNR yield from staking was 2.63%.
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BitMine provided its latest holdings update for August 10, 2026$11.6 billion in total crypto + “moonshots”:
– 5,805,238 ETH at $1,928 per ETH per ETH (per @coinbase)
– 209 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $69 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) August 10, 2026
Beyond Ethereum, Bitmine holds 209 Bitcoin, along with $104 million in cash and marketable securities and investments in Beast Industries and Eightco Holdings.
Lee remains positive about the broader crypto market despite a setback for U.S. crypto legislation. The CLARITY Act failed to secure a Senate vote before the August recess. Lee said softer inflation and jobs data appeared to be attracting more attention from financial markets.
He also said the odds of the Federal Reserve raising interest rates at its September meeting had fallen to 40% from 75% two weeks earlier. In his view, easier financial conditions could provide a tailwind for crypto assets. BMNR shares were trading near $18.80 in pre-market trading, although the stock has gained more than 31% over the past month.
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