BitMine Resumes Stock Buybacks and Elevates ETH Treasury

BitMine Steps Back Into Stock Buybacks

BitMine Immersion Technologies (BMNR) is making moves again in the stock market. The company bought back 2.04 million of its own shares last week.

This purchase marks their first reported stock buyback since mid-August. BitMine paid an average price of $22.48 per share for this latest round.

Looking at their 2026 totals, BitMine has repurchased 22.9 million shares. They spent $399.6 million in total, averaging $17.48 per share.

When management believes Bitmine shares are relatively undervalued, the Company intends to accretively repurchase shares, subject to market conditions and under the existing repurchase authorization.

Chairman Tom Lee shared this strategy in an October 7 video message. He noted that BitMine finished its previous buyback plan on August 17.

These repurchase plans now appear in the forward-looking statements section of their official release. The note was absent from the prior week's statement.

Staked EthereumETH-1.02% Crosses 5.23 Million Tokens

BitMine is also expanding its massive Ethereum position. As of October 25, the firm reported having 5,227,037 ETH actively staked.

This update breaks a long plateau. For nearly three months, their staked balance remained fixed at 5,067,309 ETH.

How BitMine Stakes Its Assets

BitMine stakes its Ethereum in two distinct ways:

• Through MAVAN, its Made in America Validator Network
• Through selected third-party operational partners

Tom Lee estimates that current staked ETH generates about $318 million in annualized staking revenue.

If BitMine stakes its full treasury, Lee calculates potential revenue could hit $368 million. This figure relies on a 2.58% seven-day yield.

Keep in mind that staking yields vary over time. Staking rewards depend heavily on network validator participation and overall Ethereum activity.

Approaching the 5% Ethereum Supply Target

BitMine's total crypto treasury continues to expand. The company added 10,452 ETH over the past week.

That addition brings BitMine's total balance to 6,051,933 ETH tokens.

This latest weekly purchase was smaller than the 12,535 ETH acquired the previous week. In fact, it was their smallest weekly addition since mid-August.

Even so, BitMine now owns 4.95% of the 122.2 million ETH in circulation. That places them very close to their stated goal of holding 5% of all Ethereum.

Analyzing Market Conditions and Tech Pullbacks

Tom Lee offered perspective on recent price swings in the crypto market. He pointed out broader financial pressures.

Lee noted that general risk-off sentiment pulled down crypto assets alongside high-growth artificial intelligence stocks.

Ether declined 13% from its recent high. Meanwhile, major US semiconductor stocks in the SOXX index fell 20% over the same stretch.

Lee views this parallel movement between tech and crypto as signs of an ongoing crypto bull market. However, market conditions remain dynamic.

Investors should note that crypto assets experience significant short-term price volatility. Price trends can shift rapidly based on macroeconomic factors.

A Breakdown of BitMine's $15 Billion Assets

BitMine calculated its crypto value using Coinbase market rates, setting Ether at $2,356 per token.

Combining crypto, cash reserves, and equity investments, BitMine's total asset footprint reaches $15 billion.

Cash and marketable securities fell to $514 million. This marks the fifth straight weekly drop, down from $714 million on September 20.

This cash reduction stems from continuous Ethereum purchases lasting nearly 18 months.

Other Corporate Investments

BitMine holds several other key positions outside of Ethereum:

• 215 Bitcoin (BTCBTC-0.82%)
• $180 million stake in Beast Industries
• $76 million position in Eightco Holdings (ORBS)

BitMine balances share repurchases with crypto treasury management. Observers continue tracking how both strategies support the company's long-term operations.

Past performance of digital assets or corporate investments does not guarantee future results. To check current prices and asset data, visit bitkub.com/th/market/ETH.