BitMine Immersion Technologies acquired 9,946 ETH worth approximately $19.4 million over the past week while repurchasing 6.1 million shares of its common stock.

The purchase increased BitMine’s holdings to 5,787,414 ETH, valued at approximately $11.3 billion based on an ETH price of $1,948 as of July 26. The company now controls about 4.8% of Ethereum’s total supply and has reached 96% of its target to own 5% of all ETH.

BitMine also increased its weekly share repurchases from 5.5 million shares to 6.1 million. The company has bought back 11.6 million shares since July 1 under its previously authorized $4 billion repurchase program. The company did not disclose the amount spent on the latest purchases.

Chairman Tom Lee said BitMine accelerated the buyback as the rising ETH to Bitcoin ratio indicated strengthening crypto prices. BitMine has continued purchasing ETH every week since launching its Ethereum treasury strategy in June 2025.

The company has staked 4,917,189 ETH worth approximately $9.6 billion. BitMine projects that its current staked position could generate $254 million in annualized staking revenue. Its combined crypto holdings, cash, securities and strategic investments were valued at $11.8 billion.