BitMine Adds 10,399 ETH, Expands Crypto Treasury to $11.3B

BitMine reported it added 10,399 ETH to its treasury, lifting total ETH holdings to 5,797,813 tokens, or about 4.8% of Ethereum’s supply. The company’s combined crypto, cash, and venture assets were valued at $11.3 billion as of Aug. 2, down from $11.8 billion last week mainly because ETH prices fell between reporting snapshots and cash balances declined. BitMine also continued its aggressive buyback, repurchasing 4.5 million shares in the past week and more than 16.1 million since July 1 under a $4 billion authorization. The article is broadly supportive for ETH from a treasury accumulation standpoint, but the reported weekly valuation decline and ETH’s near-term price softness temper sentiment. It also highlights BitMine’s large staking base and ongoing yield generation, which may reinforce institutional confidence in Ethereum exposure.