Tom Lee’s BitMine Buys 7,391 ETH, and A Massive 3 Million BMNR Shares, What’s Next?

BitMine Technologies continued expanding its Ethereum treasury after adding another 7,391 ETH during the latest week.

The company said its holdings reached 5,805,238 ETH as of Aug. 10, representing approximately 4.8% of Ethereum’s stated 120.7 million supply. That leaves BitMine close to its long-term target of holding 5% of all ETH.

The company also continued repurchasing BMNR shares as Chairman Tom Lee highlighted Ethereum’s recent strength against Bitcoin. BitMine has used both ETH purchases and share buybacks as part of its strategy to increase crypto asset exposure per share.

BitMine Continues With Its Ethereum Buying Spree

Ethereum Treasury firm BitMine Technologies (BMNR) has acquired an additional 7,391 ETH during the last week. As of date, the firm holds a total of 5,805,238 ETH, equivalent to approximately 4.8% of Ethereum’s total supply of 120.7 million.

Moreover, the company has now staked 5,067,309 ETH, representing roughly 87% of its total holdings. Based on its current staked position, BitMine expects to generate approximately $257 million in annualized staking revenue.

As per the official press release, BitMine reported approximately $11.6 billion in total crypto holdings, cash, marketable securities, and strategic investments as of August 10, 2026. The company holds 5,805,238 ETH, valued at approximately $1,928 per ETH. Besides, the Tom Lee firm also holds 209 BTC as part of its cryptocurrency portfolio.

Beyond digital assets, BitMine reported a $180 million stake in Beast Industries, associated with MrBeast, and a $69 million investment in Eightco Holdings (NASDAQ: ORBS), which the company classified as “moonshots.”

BitMine also holds approximately $104 million in cash and marketable securities. This brings its combined crypto and strategic asset holdings to around $11.6 billion.

BitMine Buys 3 Million BMNR Stocks

In addition to building its Ethereum stockpile, BitMine purchased 3 million BMNR shares last week. This combined purchase of Ethereum and BMNR totaled $70 million.

Since July 1, the Tom Lee firm has purchased 19.1 million BMNR shares, as part of its previously announced $4 billion share repurchase program. The latest buybacks have reduced the estimated number of outstanding shares to approximately 584.1 million.

The company was also added to the Russell 1000 Large-Cap Index on June 26, 2026. During the past month, the BMNR Stock has also shown good momentum. On the monthly chart, the stock price is up 25%, and on the weekly chart, it is up 7.67%. It highlights fresh buying interest among investors.

Despite this, the BMNR stock trades 40% down since the beginning of 2026, and over 68% over the last year. This happened amid the weakness in the ETH price over the last year.

BitMine Moves Closer to Its 5% ETH Goal

BitMine’s latest ETH acquisition leaves the company close to its stated target of owning 5% of Ethereum’s supply.

Its strategy now combines three major components: continued ETH accumulation, staking a large portion of those holdings and repurchasing BMNR shares when management considers the stock undervalued.

The approach can increase shareholder exposure to Ethereum if ETH appreciates and the share count declines. However, the same concentration also increases BitMine’s sensitivity to Ethereum price volatility.

The next major milestone will be whether BitMine reaches its 5% ETH target while continuing its share repurchase program. Investors will also monitor staking revenue and BMNR’s valuation relative to the company’s underlying crypto assets.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and equity markets can be highly volatile, and readers should conduct their own research before making investment decisions.