Tom Lee's Bitmine Faucets the Brakes on ETH Buys, Pivots $86M Into Inventory Buyback – Decrypt

Ethereum treasury firm Bitmine barely moved the needle on its ETH stack final week, including simply 7,430 ETH—about $14 million—because it steered capital towards shopping for again its personal shares as a substitute.

This week’s purchase pushed Bitmine’s holdings to about 5.78 million ETH tokens, or practically 4.8% of Ethereum’s circulating provide, in response to the corporate. That leaves the agency inching towards its said purpose of cornering 5% of the token’s provide. Bitmine, which trades as BMNR, is at present buying and selling for $16.61, up virtually 6% on the day.

Bitmine now holds roughly $11 billion value of Ethereum, making it the biggest company holder of ETH on the planet. It’s additionally one of many greatest digital asset treasuries, second solely to Michael Saylor’s Technique, which itself holds roughly $54 billion in Bitcoin.

Nonetheless, for Bitmine, this newest buy marks one of many firm’s thinnest weekly additions because it kicked off its Ethereum treasury technique in June 2025. The distinction is stark: Bitmine scooped up greater than 111,000 ETH in a single week again in Could.

Bitmine Chairman Tom Lee pinned the slowdown on a share repurchase, telling shareholders the agency purchased again roughly 5.5 million frequent shares at a mean worth of $15.62 underneath its $4 billion buyback authorization. (Disclosure: Tom Lee is an investor in Dastan, Decrypt’s mother or father firm.)

“The lowered tempo of buys displays that Bitmine repurchased 5.5 million frequent shares,” Lee stated. He famous the corporate has purchased ETH each week since launching the technique simply over a yr in the past.

Aside from its ETH holdings, the corporate additionally at this time reported a stash of 207 Bitcoin, $385 million in money and securities, a $180 million stake in Beast Industries and a $58 million place in Eightco Holdings.

The corporate additionally stated it has staked 4.92 million ETH—about 85% of its holdings—for projected annualized income close to $247 million through its MAVAN validator platform.