Bitmine buys back about 5.5 million shares, adds 7,430 ETH over the past week

Bitmine Chairman Thomas \u0022Tom\u0022 Lee said on July 20 that the company repurchased about 5.5 million shares of common stock last week at an average price of $15.6156, a move aimed at boosting shareholder value. The buyback was executed under the company\u0027s previously approved $4 billion share repurchase program. Over the same period, Bitmine increased its Ethereum position by 7,430 ETH. Lee said that since rolling out its Ethereum treasury strategy on June 30, 2025, the company has been acquiring ETH weekly, with the recent pace of purchases easing mainly because capital was directed toward the stock buyback. On staking, Bitmine said that as of July 19 it had staked 4,917,189 ETH, worth about $9.2 billion, accounting for 85% of its total ETH holdings. The company claims this is the largest ETH staking position held by any entity globally. Bitmine provides ETH staking through the institutional-grade platform MAVAN and plans to broaden access for institutional investors, custodians, and ecosystem partners. The company estimates that once all ETH is staked through MAVAN and its partners, annualized staking returns could reach roughly $290 million.