BitMine Adds 7,391 ETH in a Week, Closing In on 5% of Total Supply

Bitmine Immersion Technologies added 7,391 ETH over the past week, bringing its total ether holdings to approximately 5.81 million tokens. Combined with cash reserves, the company’s total crypto and cash holdings now stand at $11.6 billion. The firm’s ether stash represents about 4.8% of the total circulating supply of 120.7 million tokens, putting it close to its stated goal of controlling 5% of the network’s coins after roughly 14 months of accumulation.

Staking and Share Buybacks Continue

Of its total holdings, more than 5 million ETH is currently staked, valued near $9.8 billion, through a dedicated staking network built for institutional investors. Separately, the company repurchased 3 million shares of its common stock over the past week, bringing cumulative buybacks to more than 19 million shares since July under its larger repurchase program.

Broader Portfolio and Market Position

Bitmine also holds a stake worth roughly $69 million in another publicly traded company that offers indirect exposure to a major AI firm. The company was added to a major large-cap stock index in June, and its preferred stock trades separately on the New York Stock Exchange. Ether notably outperformed major tech stock benchmarks by a wide margin in July, reflecting stronger momentum across crypto markets.