Summary
- BitMine said it bought an additional 9,926 ETH over the past week, increasing its total holdings to 5,815,164 ETH.
- It said 5,067,309 ETH from its current holdings have been staked, with an annualized yield of 2.61% and projected annual staking income of about $250 million.
- BitMine said it repurchased 1.7 million shares of common stock last week and has bought back a total of 20.8 million shares since July 1 under a $4 billion program.
Forecast Trend Report by Period
BitMine, the world’s largest corporate holder of Ether, bought 9,926 ETH over the past week, raising its total holdings to 5,815,164 ETH. That represents 4.8% of Ether’s circulating supply of 120.7 million tokens.
PR Newswire reported on Aug. 17 that BitMine’s digital assets, cash, marketable securities and strategic investments totaled $11.4 billion. The holdings include 5.82 million ETH, 210 Bitcoin, $78 million in cash and marketable securities, a $180 million stake in Beast Industries and a $73 million stake in Aethco Holdings.
At an Ether price of $1,893, BitMine’s ETH holdings are worth about $11 billion. The company said it has reached 96% of its goal of acquiring 5% of total ETH supply and has bought Ether every week for about 14 months since launching its Ethereum treasury strategy on June 30, 2025.
BitMine has staked 5,067,309 ETH, worth about $9.6 billion at $1,893 per token. That accounts for 87% of its total holdings. Its seven-day annualized yield was 2.61%, with annual staking income projected at about $250 million. If all of its holdings were staked, rewards would total about $287 million, the company said.
Chairman Tom Lee said the ETH-BTC ratio’s climb to 0.02994 was encouraging. The ratio has broken above a long-term downtrend that persisted for years, signaling the market is starting to see tokenization and agentic AI use cases become reality.
He said the ETH-BTC ratio has historically risen during crypto bull markets when Ethereum’s utility outpaced Bitcoin’s. Earlier cycles were driven by ICOs in 2017-2018, NFTs in 2020-2021 and stablecoins in 2025. In the current cycle, Lee said, Wall Street’s blockchain-based tokenization efforts and blockchain use in agentic AI will drive the ratio higher.
BitMine also repurchased 1.7 million common shares last week. Since July 1, the company has bought back a total of 20.8 million common shares under a $4 billion repurchase program.
Lee said BitMine’s common stock remains undervalued. He called the latest buyback the largest ever among Ethereum, Bitcoin and crypto treasury companies.
BitMine is the world’s largest Ethereum treasury company and remains the second-largest crypto treasury company globally after Strategy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.