BitMine Immersion Technologies has disclosed another major Ethereum purchase, adding 10,452 ETH in the past week and lifting its total holdings to 6,051,933 ETH as of October 25. The company now controls about 4.95% of Ethereum’s total supply, placing it 99% of the way toward its “Alchemy of 5%” accumulation target. Based on current supply estimates, BitMine would need roughly 58,067 more ETH to reach exactly 5%.
At its reference price of $2,356 per ETH, the treasury was valued at approximately $14.26 billion. The company’s combined crypto assets, cash, marketable securities and other investments totaled about $15 billion. The weekly ETH purchase was worth around $24.6 million.
BitMine also continued its aggressive share-buyback program, repurchasing 2.04 million shares during the week at an average price of $22.48. Its 2026 buybacks now total 22.9 million shares worth $399.6 million at an average price of $17.48 per share. Chairman Tom Lee called it “the largest crypto treasury company common equity buyback ever executed” and said the program reflects the company’s commitment to shareholders.
On the staking side, 5,227,037 ETH—about 86% of total ETH holdings—is currently staked, up from 5.07 million ETH on October 18. BitMine estimates its staked position could generate approximately $318 million in annualized staking revenue. If the full Ethereum treasury is eventually staked through its Made in America Validator Network, known as MAVAN, and its partners, that figure could rise to $368 million based on a seven-day annualized staking yield of 2.58%.
The company has been buying ETH every week since launching the program on June 30, 2025, though the pace has recently slowed: the October 19 update showed purchases of 12,535 ETH, compared with 15,112 ETH in the week ending October 4. Lee remains optimistic despite recent market softness, noting Ethereum had fallen 13% from its recent peak versus a 20% decline in the U.S. semiconductor ETF SOXX. “We believe this is further evidence that a crypto bull market is underway,” he said.
BitMine remains the world’s largest corporate Ethereum treasury holder and ranks second among publicly traded crypto treasury companies by reported holdings, behind Strategy. Beyond ETH, it holds 215 Bitcoin, $514 million in cash and marketable securities, a $180 million stake in Beast Industries and a $76 million position in Eightco Holdings. Its Series A preferred stock trades on the New York Stock Exchange under the ticker BMNP, while institutional backers include ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital and Bill Miller III.
