Bitmine Repurchases 2.04 Million Shares as Ether Holdings Reach 6.05 Million

Bitmine Immersion Technologies said on October 26 that it repurchased 2.04 million common shares during the prior week at an average price of $22.48 per share. The company also acquired 10,452 ETH over the period.

The update puts Bitmine’s reported ether holdings at 6,051,933 ETH as of October 25. The company said that total represented about 4.95% of the reported 122.2 million ETH supply.

The latest activity adds to a larger 2026 repurchase program. Bitmine reported buying back 22.9 million common shares for an aggregate $399.6 million this year, alongside its continuing accumulation of ether.

Buybacks take a prominent role

At the reported average price, the prior week’s repurchases amounted to roughly $45.9 million. The company’s stated 2026 buyback total of 22.9 million shares and $399.6 million provides the broader context for the latest transaction.

Bitmine’s simultaneous share repurchases and ETH purchases show it is deploying capital through both its equity and digital-asset strategies. The disclosed figures do not provide a direct dollar value for the 10,452 ETH acquired during the week, so the relative size of the two weekly purchases cannot be determined from the release alone.

• 2.04 million common shares repurchased in the prior week
• Average repurchase price: $22.48 per share
• 2026 repurchases: 22.9 million shares for $399.6 million

Ether balance rises to 6.05 million

Bitmine reported holdings of 6,051,933 ETH as of October 25 after acquiring 10,452 ETH in the prior week. Based on the company’s cited reported supply of 122.2 million ETH, the holdings equal approximately 4.95% of supply.

The disclosure comes as Ethereum’s development calendar has also drawn attention, including the reported delay to Glamsterdam activation on the Hoodi testnet. Bitmine’s holdings update concerns its corporate balance sheet rather than Ethereum protocol development.

• ETH acquired during the prior week: 10,452
• ETH held as of October 25: 6,051,933
• Reported share of ETH supply: approximately 4.95%

Lee cites broader risk-off conditions

Chairman Tom Lee attributed the market pullback to broader risk-off conditions. According to the company’s statement, ETH had fallen 13% from its recent peak, while the SOXX semiconductor-stock index had fallen 20% over the same timeframe.

Those comparisons describe the cited period and do not establish how ether or Bitmine shares may perform next. The company’s filing instead documents its completed repurchases, its latest ETH acquisition and its stated holdings.

Continue reading: reported delay to Glamsterdam activation on the Hoodi testnet on BTCNews.

Continue reading: broader market liquidity conditions for bitcoin and ether on BTCNews.

Sources

• U.S. Securities and Exchange Commission filing / Bitmine press release: Bitmine Immersion Technologies Announces ETH Holdings Reach 6.05 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $15 Billion
• CoinDesk: Tom Lee's Bitmine favors share buybacks to ether purchases as crypto declines

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