BitMine Immersion Technologies said Monday that its crypto, cash and "moonshot" holdings totaled $11.3 billion as of 4:00 pm ET on Aug. 2, down from the $11.8 billion it reported a week earlier, even after buying another 10,399 ETH.
The decline came from the price BitMine used to mark its position, not from selling. The company said it held 5,797,813 ETH at $1,880 per token, citing Coinbase, against 5,787,414 ETH marked at $1,948 in its disclosure on July 27.
The 3.5% lower mark values the ETH stack at roughly $10.9 billion. BitMine said its holdings equal 4.8% of the 120.7 million ETH supply, the same share it reported a week ago.
Cash and marketable securities fell to $173 million from $268 million. BitMine said it repurchased 4.5 million common shares over the week, bringing total repurchases since July 1 to 16.1 million shares under a previously authorized $4 billion buyback program.
Chairman Tom Lee said management considers the shares attractively valued, and described the program as the largest executed by any crypto digital asset treasury company.
The rest of the balance sheet was little changed: 209 Bitcoin, up from 208, a $180 million stake in Beast Industries and a $61 million stake in Eightco Holdings, which BitMine labels "moonshots."
BitMine said 4,917,189 ETH, or 85% of its holdings, was staked as of Aug. 2, worth $9.2 billion at the $1,880 mark. It projected $247 million of annualized staking revenue based on a 2.67% seven-day annualized yield, rising to $291 million once the full position is staked through its MAVAN platform and staking partners. Lee said BitMine has staked more ETH than any other entity in the world.
Lee said ETH outperformed the Nasdaq 100 by 25 percentage points in July, the widest margin since July 2025, and that the company is 96% of the way to its "Alchemy of 5%" goal of holding 5% of ETH supply, 13 months after starting the treasury strategy on June 30, 2025. He said BitMine has bought ETH every week since then.
The company again described itself as the second-largest corporate crypto treasury behind Strategy Inc., which it said owns 843,775 BTC worth about $57 billion, down from the roughly $59 billion it cited on July 27.
All of the holdings, valuation and staking-yield figures are BitMine's own, disclosed in a press release furnished to the U.S. Securities and Exchange Commission under Item 7.01 and not independently audited or verified.