BitMine buys ETH again this week. The company added 9,946 tokens to its treasury.
Total holdings now stand at 5,787,414 ETH. This represents about 4.8% of Ethereum’s supply.
Why BitMine buys ETH near 5% target
The company calls its plan the “Alchemy of 5%.” This target equals about 6.04 million ETH. BitMine is now roughly 96% of the way there.
Chairman Tom Lee confirmed the weekly purchases. The company has bought ETH every week since June 30, 2025. This strategy gives direct exposure to Ethereum’s market price.
BitMine values its broader portfolio at $11.8 billion. This uses an ETH reference price of $1,948. The portfolio also includes 208 BTC and $268 million in cash.
Staked ETH generates growing revenue
BitMine has staked 4,917,189 ETH through its MAVAN network. This represents about 85% of total holdings. The staked position is valued at $9.6 billion.
Current staking operations could generate $254 million annually. This is based on a seven-day yield of 2.65%. Full staking could reach $299 million in annual rewards.
Staking has become BitMine’s main revenue source. It generated $45.7 million in the last quarter. This represented 98% of total quarterly revenue.
Share buybacks increase as ETH purchases continue
BitMine repurchased 6.1 million common shares last week. This is up from 5.5 million shares in the prior week. The company has bought 11.6 million shares since July 1.
Lee said the rising ETH-to-BTC ratio drove the increase. The ratio reached a three-month high at 0.3000. This reflects management’s market view.
The chairman also shared a price forecast. ETH could test $2,000 and $2,500 if patterns hold. This remains a price forecast, not a guarantee.
Treasury model combines staking, equities, and cash
BitMine holds stakes in Beast Industries and Eightco. The company describes these as “moonshots.” Cash and securities fell to $268 million this week.
The company joined the Russell 1000 on June 26. Common shares averaged $597 million daily volume. BitMine ranks 171st among U.S.-listed companies.
The growing treasury reduces available ETH for trading. Most holdings remain staked. The company remains closely tied to ETH prices.
Future disclosures will show continued buying. The company also continues its share repurchase program.
