Bitmine Slows Ether Buying As It Redirects $86 Million Into Stock Buyback

Bitmine, the largest Ethereum treasury company, sharply pulled back on its ether purchases last week, adding just 7,430 ETH worth roughly $14 million as it shifted capital toward repurchasing its own shares.

Purchase Pace Hits A Recent Low

The latest addition, made at ether’s current price of around $1,879, brought Bitmine’s total holdings to 5.78 million ETH, close to 4.8% of Ethereum’s circulating supply, according to a Monday company update. Shares of the firm rose 2.4% in pre market trading following the news. Last week’s purchase ranks among the smallest weekly additions since Bitmine launched its Ethereum treasury strategy in June 2025.

Buyback Program Behind The Slowdown

Chairman Tom Lee pointed to the company’s decision to repurchase around 5.5 million common shares at an average price of $15.62 under its existing $4 billion buyback authorization as the reason for the reduced pace of ETH buying. He noted that Bitmine has still purchased ether every single week since adopting the treasury strategy just over a year ago.

Broader Holdings And Staking Income

As of Sunday, Bitmine’s total holdings stood at $11.5 billion. Beyond its ETH treasury, the company also held 207 bitcoin, $385 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $58 million investment in Eightco Holdings. Bitmine continues to generate income by staking its ether, with about 4.92 million ETH, or roughly 85% of its holdings, currently staked through its MAVAN platform, projected to bring in around $247 million in annualized revenue.