Bitmine Expands Ethereum Holdings and Launches Record Stock Buyback

Bitmine Immersion Technologies added 10,452 Ethereum units to its treasury this week. This move brings the company's stake to 4.95% of the network's total supply. It edges closer to an internal goal known as the Alchemy of 5%.

Simultaneously, the company executed the largest stock buyback ever recorded by a crypto treasury. It acquired 2.04 million of its own shares at an average price of 22.48 dollars. This brings the total to 22.9 million shares repurchased throughout 2026.

CEO Tom Lee justified the strategy as a way to generate value when management believes shares are undervalued. The amount invested in buybacks this year now totals approximately 399.6 million dollars.

Following these moves, Bitmine now holds 15 billion dollars in total assets. The portfolio includes 6.05 million ETH along with stakes in other companies, cash reserves, and 215 Bitcoin units.

Lee linked the recent drop in digital asset prices to a global risk-off trend that also impacted the semiconductor sector. He maintains that the Ethereum accumulation strategy is nearing completion once the 5% supply target is met.