Bitmine’s Ether Purchases Slow Amid $86 Million Stock Buyback

Bitmine Slows Ether Purchases

Tom Lee’s firm, Bitmine, has significantly reduced its Ethereum purchases, acquiring only 7,430 ETH, valued at approximately $14 million, in the past week. This move comes as the company is reallocating funds towards a stock buyback program, amounting to $86 million.

Current Holdings and Strategy

Following the latest transaction, Bitmine now holds a total of 5.78 million ETH, which equates to roughly 4.8% of Ethereum’s circulating supply. The firm’s reduction in purchases marks one of the smallest weekly increments since it began its Ethereum treasury strategy in June 2025.

Previous Activity and Goals

In contrast, during the month of May, Bitmine had purchased over 111,000 ETH in a single week, consistently acquiring tens of thousands of tokens through the first half of the year. With the current strategy shift, the company approaches its goal of accumulating 5% of Ethereum’s supply.

Share Buyback Program Details

Tom Lee, the chairman of Bitmine, attributed the slowdown in ether acquisitions to the decision to repurchase about 5.5 million shares at an average price of $15.62 as part of a previously authorized $4 billion buyback program. Lee noted, “The reduced pace of buys reflects that Bitmine repurchased 5.5 million common shares.” He emphasized that the firm has maintained weekly ETH purchases since launching its treasury strategy over a year ago.

Financial Overview

As of this past Sunday, Bitmine’s total holdings amounted to $11.5 billion, comprising not only its Ethereum treasury but also 207 BTC, $385 million in cash and marketable securities, shares in Beast Industries valued at $180 million, and a $58 million stake in Eightco Holdings. Additionally, Bitmine continues to generate income through staking its ethereum, having staked approximately 4.92 million ETH, or about 85% of its total holdings, with a projected annual revenue of $247 million through its MAVAN staking platform.