Bitmine Nears 5% ETH Treasury Goal and Buys Back 2.04 Million Shares

Bitmine Immersion Technologies added 10,452 Ether (ETH) and repurchased 2.04 million common shares over the past week, extending its digital-asset accumulation and stock buyback programs.

The latest share repurchases averaged $22.48 apiece. Across 2026, Bitmine has bought back 22.9 million shares at an average of $17.48, spending $399.6 million. Chairman Tom Lee tied future buybacks to management’s view that shares are relatively undervalued, market conditions and the existing authorization. Lee said, “Optimizing shareholder value remains our top objective.”

As of Oct. 25 at 2 p.m. ET (18:00 UTC), Bitmine held 6,051,933 ETH, valued at $2,356 apiece. That amounted to 4.95% of the 122.2 million ETH supply figure used by the company. Bitmine also had 5,227,037 ETH staked, valued at $12.3 billion at the same price.

Bitmine has set a treasury target of 5% of ETH supply and has described weekly purchases as part of its strategy since it began June 30, 2025. The latest balance leaves it just below that threshold.