Bitmine Immersion Technologies continued its weekly Ethereum purchases, but the crypto treasury company’s larger move was a record share-buyback program. The NYSE-listed firm repurchased 2.04 million shares during the past week, bringing its 2026 buybacks to 22.9 million shares worth approximately $399.6 million.
According to Decrypt, Bitmine also acquired 10,452 ETH, valued at about $24 million, extending a weekly buying streak. The purchase increased its Ethereum holdings to 6,051,933 ETH, worth roughly $14.3 billion at a reference price of $2,356 per token.
Bitmine approaches its 5% Ethereum target
Bitmine says its Ethereum holdings represent 4.95% of the network’s 122.2 million-token supply. That puts the company 99% of the way toward its stated objective of controlling 5% of Ethereum, a target it calls the “Alchemy of 5%.”
Chairman Tom Lee has previously said the company will stop accumulating ETH once it reaches that threshold. He described the stock repurchases as an effort to buy shares “accretively” when management believes the market price does not reflect the company’s value.
In addition to Ethereum, Bitmine reported 215 Bitcoin, $514 million in cash and marketable securities, a $180 million investment in Beast Industries and a $76 million position in Eightco Holdings. Including these assets and its “moonshot” investments, the company said its total holdings were worth $15 billion as of October 25.
Bitmine is the largest Ethereum treasury company and the second-largest crypto treasury firm overall, behind Strategy, the company associated with Michael Saylor.
A similar shift at Strategy
Strategy also placed greater emphasis on its equity this week. It paused Bitcoin purchases for the first time since mid-September and spent $204.9 million buying back its STRC preferred stock.
The moves by both companies highlight a temporary preference for supporting their own securities rather than directing all available capital into additional cryptocurrency. Bitmine’s latest announcement nevertheless shows that its Ethereum accumulation has not stopped while the buyback program expands.
Lee characterized recent weakness in crypto as part of a broader risk-off move that also affected artificial-intelligence investments. He said Ethereum had declined 13% from its recent high, compared with a 20% drop in U.S. semiconductor stocks over the same period.
Staking and the current market picture
Bitmine said 5,227,037 ETH, or about 86% of its holdings, is staked through its MAVAN platform. The company projects annualized staking revenue of approximately $318 million.
Moneyiar market data at 2026-10-25 22:39 +03:30 put Ethereum at $2,342.0570017305, up 0.02% over 24 hours but down 1.77% over seven days. Over the same period, Shiba Inu traded at $0.0000048638, down 0.75% in 24 hours and 1.21% over seven days; Uniswap stood at $6.9787690874, up 2.51% daily and down 2.12% weekly; and Pepe was $0.0000043274, down 3.97% daily but up 8.92% over seven days.
