BitMine repurchased 2.04M shares while staking 5.23M ETH and growing its treasury to 6.05M ETH, generating ~$318M annualized staking revenue.
DeFi & Yields ·
BitMine Immersion Technologies has resumed share repurchases after a pause since mid-August, acquiring 2.04 million shares at an average of $22.48 per share. This latest buyback brings the company's 2026 repurchase activity to 22.9 million shares totaling $399.6 million. The resumption follows Chairman Tom Lee's October statement that the firm would repurchase shares opportunistically when management views them as undervalued, subject to market conditions and existing authorization.
The company's staked ether holdings increased to 5.23 million ETH as of late October, rising from a level that had remained static for nearly three months. BitMine generates staking revenue through its Made in America Validator Network and external partners; at current yields, the 5.23 million ETH generates approximately $318 million in annualized revenue. The treasury expanded by 10,452 ETH during the week, bringing total holdings to 6,051,933 ETH—representing 4.95% of total ether supply against a stated 5% target.
Lee characterized the broader crypto environment as experiencing a bull market despite recent declines in ether and semiconductor equities, citing the asset class's relative resilience. BitMine's total holdings, marked at $2,356 per ETH using Coinbase pricing, amount to $15 billion across crypto, cash, and equity positions. Liquid reserves fell to $514 million as continuous ETH acquisitions over the past eighteen months continue.