BitMine Immersion Technologies purchased 10,452 Ethereum (ETH) during the week ending October 25, continuing its regular acquisition program despite recent weakness in cryptocurrency prices. The company disclosed the purchase on October 26 alongside repurchases of its NYSE-listed BMNR shares.
Ethereum Holdings Near 5% Target
BitMine held 6,051,933 ETH as of October 25, representing 4.95% of Ethereum's estimated 122.2 million total supply. Using its reference price of $2,356 per token, the company valued its Ethereum reserves at approximately $14.26 billion. The latest weekly acquisition was worth roughly $24.6 million at that valuation.
BitMine launched its Ethereum treasury strategy on June 30, 2025, and has purchased ETH every week since inception, according to Chairman Tom Lee. The company remains approximately 58,067 ETH short of reaching its 5% ownership goal.
Staking Operations and Revenue
As of October 25, BitMine had staked 5,227,037 ETH, representing about 86% of its holdings. The company's MAVAN platform handles part of that staking activity. BitMine estimated $318 million in annualized revenue from its current staked balance based on recent yields.
BitMine reported additional assets including $514 million in cash and marketable securities, 215 Bitcoin, and other strategic investments.
Share Repurchase Program
BitMine repurchased 2.04 million common shares during the same week at an average price of $22.48 per share. The 2026 repurchase program has now totaled 22.9 million shares for $399.6 million in aggregate spending.
