Ethereum treasury company Bitmine Immersion Technologies said Monday it bought 7,391 ETH over the past week, worth about $14 million, bringing its holdings to 5,805,238 ETH as of Friday evening. The company bought 10,399 ETH the week before.
Bitmine said total crypto, cash, and what it calls "moonshot" investments reached $11.6 billion, up from $11.3 billion. Most of that increase came from price movement rather than new purchases. ETH rose 2.6% over the week to $1,928, adding about $280 million to the value of the company’s holdings, while weekly purchases added roughly $14 million.
In its latest holdings update for Aug. 10, 2026, the company listed:
- $11.6 billion in total crypto plus "moonshots"
- 5,805,238 ETH valued at $1,928 per coin
- 209 Bitcoin
- a $180 million stake in Beast Industries
- a $69 million stake in Eightco Holdings
Cash continues to shrink. Bitmine said cash and marketable securities stood at $104 million, down from $173 million a week earlier and from $482 million reported for July 12, a decline of 78% over a month by the company’s calculation. Alongside its ETH position, Bitmine also holds 209 BTC, a $180 million stake in Beast Industries, and $69 million in Eightco Holdings.
Share repurchases and staking exposure
Bitmine repurchased 3 million shares over the week, down from 4.5 million in the prior week. That brought total buybacks to 19.1 million shares since July 1 under a $4 billion authorization.
Chairman Tom Lee said the company "continues to view Bitmine's common shares as undervalued" and described the program as the largest executed by any crypto treasury company.
The company said 5,067,309 ETH are now staked, equal to 87% of total holdings, up from 85% a week earlier. Based on a seven-day yield of 2.63%, Lee put projected annualized staking revenue at $257 million.
Still short of the 5% target
Bitmine’s ETH holdings represent 4.8% of Ethereum’s 120.7 million supply. The company again said it is 96% of the way to its "Alchemy of 5%" target, the same figure it gave a week earlier and the fifth straight week it has remained at 4.8%.
Reaching 5% would require about 229,800 more ETH. At last week’s purchase pace, that would take roughly 31 weeks.
Weekly ETH buying since June 30, 2025
Bitmine said it has bought ETH every week since starting the strategy on June 30, 2025. The company bought $214 million worth in June during a selloff Lee called "superficial." It then added $49 million in July on early demand for Robinhood Chain, before slowing purchases later that month after moving past 5.79 million ETH.
Lee comments on the Clarity Act and Fed odds
Lee also said he was "disappointed" that the Clarity Act would not reach a Senate vote before the August recess. He pointed to softer inflation and jobs data and said the odds of a September Federal Reserve hike had fallen to 40% from 75% a fortnight earlier. According to CME FedWatch, those odds have since risen to 46%.