Bitmine Immersion Technologies, chaired by Tom Lee, continues its strategy of accumulating Ethereum and repurchasing company shares. For the week ending October 26, 2026, the firm added 10,452 ETH to its treasury and retired 2.04 million shares. The company has maintained a weekly purchasing schedule for ETH since June 30, 2025.
As of October 18/19, 2026, Bitmine held 6,041,481 ETH, representing 4.9% of the total Ethereum supply. The portfolio is valued between $14 billion and $15 billion. The company aims to reach a 5% ownership stake in the total supply through its Alchemy of 5% program, which combines consistent asset acquisition, staking, and share buybacks.
The firm currently stakes approximately 84% to 87% of its holdings, or about 5.07 million tokens, via its MAVAN platform. These operations are expected to generate annualized rewards between $300 million and $400 million. This income stream is intended to support future buybacks and ETH purchases.
The recent share repurchases are part of a broader $4 billion authorization. Since July 2026, Bitmine has bought back between 16 million and 21 million shares. Bitmine is listed on the NYSE under the ticker BMNR and remains the largest public holder of Ethereum globally.
