Bitmine Immersion Technologies accelerated its share repurchases last week, buying back 6.1 million common shares under its $4 billion authorization, after previously acquiring roughly 10,000 Ethereum tokens to extend its position as the world's largest corporate ETH treasury.
Chairman Thomas Lee cited Ethereum's recent outperformance against Bitcoin, noting the ETH/BTC ratio hit a three-month high of 0.3000. The company's total crypto and cash holdings now stand at $11.8 billion, including 5.79 million ETH, 208 Bitcoin, and equity stakes in Beast Industries and Eightco Holdings.
Since launching its treasury strategy in June 2025, Bitmine has purchased ETH weekly and currently stakes 4.92 million tokens generating a 2.65% annualized yield. The firm, which joined the Russell 1000 index in June, holds 4.8% of Ethereum's circulating supply.