Bitmine increased its holdings by 7,430 ETH last week; it repurchased about 5.5 million shares of common stock at an average price of $15.6156.

Mars Finance News: On July 20, Bitmine chairman Thomas “Tom” Lee said the company repurchased about 5.5 million shares of common stock last week at an average price of $15.6156, aiming to enhance shareholder value. The repurchase came from a previously approved $4 billion stock repurchase program. Meanwhile, Bitmine increased its holdings by 7,430 ETH last week. Lee said that since the company launched its Ethereum treasury strategy on June 30, 2025, it has continued to purchase ETH on a weekly basis; its recent purchase pace slowed mainly due to stock repurchase activities.

In its staking business, Bitmine had staked 4,917,189 ETH as of July 19, worth about $9.2 billion, accounting for 85% of its total ETH holdings. The company said that its current ETH staking size exceeds that of any other entity globally. Bitmine carries out its ETH staking business through an institutional-grade staking platform, MAVAN, and plans to open its services in the future to institutional investors, custodians, and ecosystem partners. The company expects that once all ETH is staked through MAVAN and its partners, annualized staking returns could reach about $290 million.