Tom Lee says ether outperformed Nasdaq 100 in July as Bitmine adds 10,399 ETH

Bitmine Immersion Technologies increased its ether treasury to 5,797,813 ETH, giving it control of 4.8% of the world's second-largest cryptocurrency, the company said Monday.At $1,880 per ETH, the Ethereum treasury is worth roughly $10.9 billion, positioning Bitmine (BMNR) as the largest corporate…

Bitmine Immersion Technologies increased its ether treasury to 5,797,813 ETH, giving it control of 4.8% of the world's second-largest cryptocurrency, the company said Monday.

At $1,880 per ETH, the Ethereum treasury is worth roughly $10.9 billion, positioning Bitmine (BMNR) as the largest corporate ether holder globally and the second-largest corporate crypto treasury overall, trailing only Strategy's $57 billion bitcoin position, according to a statement.

The latest figure marks an increase of 10,399 ETH over the prior week and places Bitmine 96% of the way toward its stated "alchemy of 5%" target, representing 5% of ether's 120.7 million-token supply.

Of the total ETH held, 4,917,189 tokens, valued at $9.2 billion, are staked through the company's MAVAN platform and staking partners. The company projects annual staking revenues of $247 million.

Beyond ether (ETH), Bitmine reported 209 Bitcoin, a $180 million stake in Beast Industries, a $61 million stake in Eightco Holdings, and total cash and marketable securities of $173 million. Combined crypto holdings, cash, marketable securities, and other investments totaled $11.3 billion.

Meanwhile, Bitmine Chairman Tom Lee reiterated the company's conviction in ether, noting that the asset outperformed the Nasdaq 100 by 2,500 basis points in July, marking the asset's largest monthly outperformance over the index since July 2025.

Lee said Bitmine repurchased 4.5 million common shares over the past week because the company viewed the stock as attractively valued, bringing total buybacks since July 1 to 16.1 million shares under the company's previously authorized $4 billion repurchase program.

According to The Block's ETH price page, ether traded above $1,800 on Monday, down 5.23% over the previous 24 hours.

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