BitMine’s crypto treasury company crosses new threshold with continued accumulation of Ethereum. The company purchased 7,391 ETH over the past week, for approximately $14 million. Its holdings now reach 5,805,238 ETH, after a new series of weekly purchases. The increase comes as the total value of its crypto assets, cash and high-risk investments climbs to $11.6 billion. At the same time, its cash reserve continues to decline.
In brief
- BitMine purchased 7,391 ETH this week, bringing its holdings to 5.8 million ETH, or 4.8% of the total supply.
- Staking now represents 87% of its reserves, with 5.07 million ETH and an estimated annualized income of $257 million.
- The company repurchased 3 million shares, bringing the total to 19.1 million since July 1, as part of a $4 billion authorization.
- Its free cash flow dropped 78% in one month, from $482 million to $104 million, while the 5% target remains at 229,800 ETH.
A new acquisition of Ethereum
BitMine continues its ETH purchases by adding 7,391 tokens to its portfolio this week, after purchasing 10,399 ETH the previous week. This accumulation brings its reserves to 5,805,238 ETH on Friday evening according to theannouncement of society. The value of ETH also increased by 2.6% over the week, reaching $1,928. The increase added about $280 million to the portfolio value, compared to just $14 million from new purchases.
In total, BitMine now claims $11.6 billion in cryptocurrencies, cash and high-risk investments. The amount was $11.3 billion a week earlier. The progression therefore mainly comes from the appreciation of ETH, rather than the amount invested during the period. At the same time, the company owns 209 bitcoins, as well as stakes valued at $180 million in Beast Industries and $69 million in Eightco Holdings.
BitMine accelerates the staking of its ETH
Staking is taking an increasing place in BitMine’s strategy. The company placed 5,067,309 ETH in staking, or 87% of its holdings, compared to 85% a week earlier. Tom Lee estimates that this activity could generate $257 million in annualized revenue. This projection is based on a return of 2.63% calculated over seven days.
The company thus holds 4.8% of the total Ethereum supply, estimated at 120.7 million ETH. It remains at 96% of its objective called “Alchemy of 5%”, a level maintained for the fifth consecutive week. To reach this threshold, approximately 229,800 additional ETH would be required. At the rate of purchases made this week, this effort would represent approximately 31 additional weeks.
Share buybacks despite falling cash flow
BitMine also continued its share buyback program. She bought back 3 million shares this weekcompared to 4.5 million the previous week. As of July 1, the total reaches 19.1 million shares as part of a $4 billion authorization. Tom Lee still considers common stock to be undervalued and touts this program as the largest ever by a crypto treasury company.
However, this policy comes at a time when cash and marketable securities are declining sharply. BitMine now has $104 million, up from $173 million a week ago and $482 million on July 12. The drop thus reached 78% in one month. Since the launch of its strategy on June 30, 2025, the company has purchased ETH every week, with varying amounts depending on the period.
The trajectory will now depend on continued purchases and the evolution of the value of ETH. With 4.8% of the supply held, the 5% target remains close, but still requires 229,800 ETH. Staking could also strengthen expected revenues, while available cash flow continues to contract. Finally, Tom Lee also monitors the American monetary environment, after reducing the probability of a rate hike in September to 40%, compared to 75% two weeks previously. This probability then increased to 46% according to CME FedWatch. The pace of acquisitions will therefore remain a central indicator for measuring progress towards this objective.
BitMine is thus pursuing an ambitious strategy around Ethereum, while dealing with narrower financial margins. The valuation of its assets will now depend more on market conditions. Between staking returns, securities buybacks and growing exposure to ETH, the coming months will above all allow us to measure the solidity of this model in the face of variations in the crypto market.
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