BitMine Immersion Technologies has raised its Ethereum bet again, adding another 7,430 Ether over the past week. That brings its total holdings to 5,777,468 Ethereum as of July 19. Based on the company’s update, that is roughly 4.8% of Ethereum’s 120.7 million-token supply, putting BitMine about 96% of the way to its stated goal of controlling 5% of all Ether.
The scale is what makes this stand out. Using BitMine’s disclosed pricing of $1,879 per Ethereum, those crypto holdings, together with cash and marketable securities, brought total crypto and cash holdings to about $11.5 billion.
At the same time, the company said it repurchased 5.5 million of its own shares under its previously authorized $4 billion buyback program. Taken together, the move means BitMine is increasing its Ether exposure while also reducing shares outstanding.