{"id":13540,"date":"2026-08-03T15:33:27","date_gmt":"2026-08-03T15:33:27","guid":{"rendered":"https:\/\/nile1.com\/en\/?p=13540"},"modified":"2026-08-03T15:33:34","modified_gmt":"2026-08-03T15:33:34","slug":"bitmine-extends-ethereum-monopoly-push-with-19-5m-purchase-and-massive-stock-buyback","status":"publish","type":"post","link":"https:\/\/nile1.com\/en\/2026\/08\/03\/bitmine-extends-ethereum-monopoly-push-with-19-5m-purchase-and-massive-stock-buyback\/","title":{"rendered":"Bitmine Extends Ethereum Monopoly Push With $19.5M Purchase and Massive Stock Buyback"},"content":{"rendered":"

Bitmine Immersion Technologies<\/a> added 10,399 ETH over the past week for roughly $19.5 million, pushing its total reserve to 5,797,813 ETH and closing in on its stated goal of controlling 5% of Ethereum<\/a>‘s global circulating supply.<\/p>\n

The latest transaction leaves the corporate treasury holding approximately 4.8% of all circulating ETH\u2014putting the company 96% of the way toward its target. With Ethereum hovering around $1,880, Bitmine’s token stash is valued at $10.9 billion, while its broader balance sheet of cash, digital assets, and investments stands at $11.3 billion.<\/p>\n

Alongside its crypto accumulation, Bitmine repurchased 4.5 million shares of common stock last week under an existing $4 billion share buyback program. Bitmine Chairman Tom Lee linked the equity move to Ethereum’s outperformance relative to traditional equity markets.<\/p>\n

“Since Bitmine pivoted to an Ethereum Treasury strategy on June 30 of last year, sizable outperformance of ETH vs QQQ (monthly) has typically been followed by Bitmine’s shares outperforming ETH over the following month,” Lee said in a statement. He noted that ETH beat the Nasdaq 100 by 25 percentage points in July.<\/p>\n

Bitmine has retired 16.1 million common shares under the repurchase initiative since July 1, 2026, a move Lee called the largest buyback ever completed by a Digital Asset Treasury.<\/p>\n

Beyond passive capital growth, Bitmine relies on native network yields to generate cash flow. The company has deployed roughly 4.9 million ETH\u2014representing 85% of its total holdings\u2014into its institutional staking platform, MAVAN. Bitmine projects this operation will yield $247 million in annualized revenue, depending on network conditions.<\/p>\n

The company’s buying spree has built up steadily through 2026. Bitmine absorbed 101,627 ETH in April, then bought 126,971 ETH for $214 million during a June market drop that Lee characterized as “superficial.” In July, the firm deployed another $49 million into ETH following early adoption figures for Robinhood’s layer-2 network, Robinhood Chain<\/a>.<\/p>\n

Ethereum is up roughly 6% over the last 30 days, holding near a $255 billion market capitalization according to pricing data from CoinGecko<\/a><\/a>. Despite Bitmine’s continuous buying, sentiment on prediction platform Myriad remains leaning bearish, with traders assigning a 75% probability that ETH will fall to $1,500 before reaching $3,000.<\/p>\n

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