Bitmine Adds 10,399 ETH as Tom Lee Says Ether Beat the Nasdaq 100 in July

News Editor

2026-08-04 07:32:04

Bitmine Immersion Technologies said it added another 10,399 ETH last week, taking its total Ether holdings to 5,797,813 ETH, or about 4.8% of circulating supply. The company said the position is worth roughly $10.9 billion based on an Ether price of $1,880. Of that total, 4,917,189 ETH has been staked through Bitmine’s MAVAN platform and partners, with projected annual staking income of as much as $247 million. Bitmine also disclosed other holdings, including 209 BTC, a $180 million stake in Beast Industries, $61 million in Eightco Holdings shares, and $173 million in cash and marketable securities, bringing total assets to about $11.3 billion. Chairman Tom Lee said Ether outperformed the Nasdaq 100 by 2,500 basis points, or 25 percentage points, in July, marking its biggest single-month outperformance against the index since July 2025. The company also repurchased 4.5 million common shares over the past week and has bought back 16.1 million shares since July 1 under a previously approved $4 billion repurchase program.

Bitmine Immersion Technologies (BMNR), chaired by Wall Street strategist Tom Lee, said it bought another 10,399 ETH last week, lifting its total Ether holdings to 5,797,813 ETH.

The company said that figure represents about 4.8% of Ether’s circulating supply, putting it close to its stated goal of holding 5% of the network’s ETH.

Ether holdings approach 5.8 million coins

Bitmine said its Ether treasury is worth about $10.9 billion based on an ETH price of $1,880. By its own description, the company is now the publicly listed firm with the largest Ether holdings in the world and the second-largest crypto reserve company globally, behind Strategy, which holds $57 billion in Bitcoin.

Outside of Ether, Bitmine said it also holds 209 BTC, a $180 million stake in Beast Industries, $61 million in Eightco Holdings shares, and $173 million in cash and marketable securities. Total assets stand at about $11.3 billion.

More than 4.9 million ETH has been staked

According to the company, 4,917,189 ETH from its treasury has been staked through its MAVAN platform and partner channels. Bitmine valued that staked Ether at about $9.2 billion.

The company said the staked position is expected to generate as much as $247 million in annual staking income.

Tom Lee points to Ether’s July outperformance

Lee also reiterated his bullish view on Ether. He said ETH outperformed the Nasdaq 100 by 2,500 basis points, or 25 percentage points, in July, which he described as the largest single-month outperformance versus the index since July 2025.

Bitmine tied that performance to what it sees as rising allocation demand for Ether.

Share repurchases continue alongside ETH accumulation

At the same time, the company said it has been buying back its own stock. Lee said Bitmine considers the current share price attractive, and as a result repurchased 4.5 million common shares over the past week.

Since July 1, Bitmine has bought back a total of 16.1 million shares under a previously approved $4 billion share repurchase program.

ETH remains above $1,800 at publication time

At the time of writing, Ether was still trading above $1,800, down 0.2% over the past 24 hours.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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