BitMine buys more Ethereum every single week. The latest update from the world’s largest corporate ETH holder shows just how disciplined that habit has become. Tom Lee’s treasury company added another 10,399 ETH last week, worth roughly $19.5 million. That purchase pushed its total holdings to nearly 5.8 million tokens. For Canadian investors watching the Ethereum treasury strategy trend from north of the border, this steady accumulation says a lot about institutional confidence in ETH right now.
BitMine Buys More Ethereum Again This Week
Monday’s update confirmed the pattern once more. BitMine buys more Ethereum on a set weekly schedule. This week’s purchase of 10,399 ETH extended a buying streak that stretches back to June 2025. That single purchase lifted BitMine’s total stash to 5,797,813 ETH, worth about $10.9 billion at current prices. Including bitcoin, cash, and other investments, its total holdings now sit near $11.3 billion.
This latest move keeps BitMine firmly in position as the largest known corporate holder of Ethereum anywhere in the world. Its stash represents about 4.8% of Ethereum’s circulating supply. That puts the firm 96% of the way toward Tom Lee’s long stated goal of controlling 5% of all ETH. Because that target has stayed consistent since the pivot away from bitcoin mining, the milestone feels less like a surprise and more like the natural next step.
Why BitMine Buys More Ethereum at a Slower Pace
Compared with earlier in the year, this week’s addition looks modest. BitMine bought more than 111,000 ETH in a single week back in May. It also regularly scooped up tens of thousands of tokens throughout the first half of 2026. Even so, the company hasn’t skipped a single week of buying since it adopted its treasury strategy just over a year ago.
Part of the reason for the slower pace comes down to where BitMine chose to put its capital instead. Rather than deploying every available dollar into ETH, the firm redirected some cash toward buying back its own shares. That decision reflects a broader shift happening across digital asset treasury companies. Management teams increasingly weigh crypto purchases against their own undervalued stock.
Tom Lee’s Case for Why BitMine Buys More Ethereum
Chairman Tom Lee explained the logic in a Monday statement. He pointed to a pattern he’s tracked since the pivot in June of last year. Sizable ETH outperformance against the Nasdaq, on a monthly basis, has typically led to BitMine’s own shares outperforming ETH the next month. Because of that pattern, he argued, buying back stock made just as much sense as buying more ether.
The fact that BitMine buys more Ethereum on a near-automatic weekly schedule is exactly what makes Lee’s commentary worth reading closely. He also highlighted Ethereum’s July performance. ETH beat the Nasdaq 100 by roughly 25 percentage points last month. He’s been vocal about similar predictions before, including his belief that AI-driven demand for blockspace could reshape how investors value Ethereum.
Inside the $4 Billion Stock Buyback
Last week, BitMine repurchased 4.5 million shares under its previously authorized $4 billion buyback program. That brings total common equity repurchases to more than 16 million shares since the program began. Lee described it as the largest BMNR stock buyback ever executed by any Ethereum, bitcoin, or crypto treasury company.
Since July 1, the company has repurchased 16.1 million shares of common stock under that same authorization. Management continues to argue that its shares trade below what the underlying ETH and cash holdings are worth. Whether that view holds up depends heavily on where Ethereum’s price goes from here. A rising ETH would only widen that perceived gap.
BitMine Buys More Ethereum and Stakes Almost All of It
Buying ether is only half of BitMine’s strategy. The company has staked roughly 4.9 million ETH, or about 85% of its total holdings, through its own staking platform. That staked position is projected to generate around $247 million in annualized revenue. The company notes that figure depends on future network conditions.
Staking rewards have become one of the clearest differences between Ethereum treasuries and their bitcoin counterparts, since bitcoin offers no equivalent yield mechanism. This structural advantage helps explain why institutional capital keeps flowing toward corporate crypto treasury strategies built around Ethereum specifically.
What Canadian Investors Should Watch Next
Many Canadians track Ethereum price in Canada through TSX-listed ETFs rather than by buying BMNR shares directly. Even so, BitMine’s weekly disclosures still matter. The pattern of BitMine buys more Ethereum weekly, even as pace slows, tells Canadian investors something about sustained institutional demand. That dynamic can shape how Canadian ETH ETFs perform over time.
Ethereum trades near $1,880 as of this update. That’s up modestly over the past month, even as the broader crypto market stays choppy. Whether BitMine keeps favoring buybacks over ETH purchases in the coming weeks will say something about how confident management feels in both assets.
BitMine’s next weekly update will show whether this slower pace sticks or whether the company swings back toward aggressive accumulation. Either way, its moves are becoming one of the more reliable signals to watch in the Ethereum treasury space. That’s worth keeping an eye on regardless of which side of the border you’re investing from.
