Bitmine has increased its ether holdings to 5,805,238 coins, at an average price of $1,928 per coin, but the pace of its purchases has slowed. As of August 9, the company also held 209 bitcoins, a $180 million stake in media company Beast Industries, $69 million in holding company Eightco Holdings, and $104 million in cash and securities.
Bitmine's ether holdings equal 4.8% of the total ETH supply of 120.7 million coins. The company said it has now completed 96% of its "Alchemy 5%" plan to accumulate 5% of all ETH in circulation, and would need to buy roughly 229,800 more ETH to finish, a process that could take about 31 weeks at its current slowing pace.
Weekly Purchases Since June 2026
Bitmine has bought ETH every week since it began accumulating in June of last year. In June 2026 it purchased $214 million worth of ETH, but that fell to $49 million in July, even as demand grew for Robinhood Chain, a layer-two solution for scaling the Ethereum network.
Bitmine's total assets are now worth $11.6 billion, up from $11.3 billion a week earlier, driven mostly by ETH's price rising 2.6% to $1,928 over seven days. The company has staked 5,067,309 ETH, or 87% of its assets, through its MAVAN platform, up from 85% a week earlier, and expects $257 million in staking revenue based on a weekly yield of 2.63%.
In June, Bitmine chairman Tom Lee attributed crypto market weakness to the rapid growth of artificial intelligence, which has drawn massive investor capital. He said investors have grown disappointed by AI's rise and the lack of growth in digital assets.
