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Bitmine Immersion Technologies (NYSE: BMNR) said on Oct. 26 that its crypto holdings, cash, marketable securities and strategic investments totaled about $15 billion, including 6,051,933 ETH valued at a company reference price of $2,356 per token, according to News.bitcoin. That stack equals 4.95% of ether’s roughly 122.2 million circulating supply.
The company also bought back 22.9 million of its own shares in 2026 for approximately $399.6 million. Crypto.news reported the same total and added that the year-to-date average repurchase price was $17.48 per share.
Also read: BitMine Buys 15,112 ETH, Treasury Reaches 6,016,414 Tokens
Key facts
- Bitmine added 10,452 ETH in the week before the update, extending a weekly buying streak that began June 30, 2025.
- The latest buyback covered 2.04 million shares at an average price of $22.48; Crypto.news put the cost of that week’s purchases at about $45.9 million.
- Bitmine has staked 5,227,037 ETH, roughly 86% of its holdings, and estimates $318 million in annualized staking revenue, with $368 million projected if the full treasury is staked via its Made in America Validator Network (MAVAN) and partners.
- Other holdings include 215 BTC, $514 million in cash and marketable securities, a $180 million stake in Beast Industries and $76 million in Eightco Holdings (Nasdaq: ORBS).
- Bitmine joined the Russell 1000 on June 26; its Series A preferred stock trades on the NYSE as BMNP.
Buying back stock while buying more ether
Chairman Tom Lee said the program is the largest common equity buyback ever carried out by a crypto treasury company, though the source noted the ranking is a company claim. Lee said management intends to keep repurchasing when it judges BMNR to be relatively undervalued, subject to market conditions and the existing authorization. Crypto.news also quoted him saying that maximizing shareholder value is the top priority.
The two reports frame the totals differently. News.bitcoin described the ether stash as approaching the company’s “Alchemy of 5%” target. Crypto.news put a number on the gap: at a 122.2 million supply, a full 5% would be about 6.11 million ETH, leaving Bitmine roughly 58,067 tokens short. Crypto.news also noted the buying pace has slowed, from 15,112 ETH in the week ending Oct. 4 to 12,535 ETH in the Oct. 19 update and 10,452 ETH in the latest week.
Also read: BitMine Tops 6 Million ETH After $47M Weekly Buy
Why it matters
Bitmine’s quarterly-style updates have become a reference point for how large corporate treasuries deploy capital into digital assets. The company is shrinking its share count while expanding its claim on ether’s circulating supply, a combination that ties BMNR’s equity story directly to ether’s price. It remains the largest publicly traded ether treasury and ranks second among crypto treasury companies by reported holdings, behind Strategy, according to Crypto.news. Lee compared ether’s 13% pullback from its recent peak with a 20% decline in U.S. semiconductor equities, describing it in Crypto.news as evidence a crypto bull market is underway.
What to watch
The next weekly treasury disclosure will show whether ETH purchases keep decelerating and whether buybacks continue at the roughly $45.9 million weekly pace. Crossing the 5% threshold, about 58,067 ETH away on Crypto.news’s calculation, is the milestone the company has flagged as its ceiling.
This article is not financial advice. Crypto asset prices are volatile and uncertain, and forward-looking company statements may not be realized.
Reported by news.bitcoin.com.
Sources: Bitcoin.com News, Crypto.news