Bitmine repurchased 5.5 million shares as staking drove 98.3% of quarterly revenue

Bitmine said it repurchased about 5.5 million common shares at an average price of $15.6156 each under its approved $4 billion buyback plan, while continuing weekly Ethereum accumulation at a slower pace as it approaches its goal of holding 5% of ETH supply. The company said it held 5,777,468 ETH as of July 19 after adding 7,430 ETH during the latest week, equal to 4.8% of its estimate of 120.7 million ETH in circulation and about 96% of its 5% target. Bitmine also said its total holdings across cryptocurrency, cash, marketable securities and strategic investments reached $11.5 billion, including 207 BTC, $385 million in cash and marketable securities, a $180 million stake in Beast Industries and a $58 million position in Eightco Holdings. The company said 4,917,189 ETH, about 85% of its holdings, was staked through MAVAN and external partners, with estimated annual staking revenue of about $247 million at a seven-day yield of 2.67%, rising to about $290 million once all ETH is fully deployed. Bitmine was added to the Russell 1000 Large-cap Index on June 26, 2026, and said its Series A Preferred Stock trades on the New York Stock Exchange under the symbol BMNP. For the quarter ended May 31, 2026, Bitmine reported $45.743 million in staking and validation revenue, or 98.3% of total revenue of $46.535 million, while posting a $92.1 million derivatives loss and a net loss of $83.6 million.