Ethereum News Today: BitMine Holds 625,000 ETH and 192 BTC Amid $1 Billion Stock Buyback

BitMine, an Ethereum-focused treasury firm, has disclosed its current asset holdings, revealing a significant stake in both ETH and BTC. As of July 28, the company reported holding 625,000 Ethereum tokens, valued between $2.3 billion and $2.42 billion depending on the data source [1][2][3]. In addition, the firm holds 192 Bitcoin coins, valued at approximately $118,021 per BTC, totaling around $22.8 million in Bitcoin [1][2]. BitMine also disclosed holding over $401.4 million in unencumbered cash, reinforcing its financial flexibility [1].

The announcement coincided with a $1 billion stock repurchase program, a move reflecting confidence in the company’s long-term value and capital structure [2][4]. The repurchase plan has already had a stabilizing effect on the company’s shares, with its stock price showing a noticeable rebound following the announcement [3].

BitMine’s Ethereum holdings position it among the top institutional ETH holders, surpassing other entities in both volume and value. Its status as one of the largest ETH treasury holders highlights growing institutional interest in the cryptocurrency, especially as Ethereum transitions toward a more energy-efficient proof-of-stake model [3]. The firm’s disclosures provide transparency into its treasury strategy and align with the broader trend of institutional adoption in the crypto market.

While the exact rationale for maintaining such a large ETH holding is not fully detailed in public reports, the firm’s move to repurchase shares and disclose its reserves suggests a strategic approach to managing capital and signaling strength to investors. The varying valuation figures across different sources underscore the volatility of crypto prices, even in institutional portfolios. However, the consistent figures for the number of tokens held—625,000 ETH and 192 BTC—provide a clear baseline for assessing the company’s exposure to digital assets.

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Source:

[1] [Tom Lee's Ethereum treasury firm BitMine approves $1 ...](https://www.theblock.co/post/364586/tom-lee-ethereum-treasury-company-bitmine-1-billion-stock-repurchase-program-ether-holdings-625000-eth)

[2] [BitMine announces $1 billion stock repurchase program](https://za.investing.com/news/company-news/bitmine-announces-1-billion-stock-repurchase-program-93CH-3808408)

[3] [ETH treasuries surpass $10 billion across 64 entities, data ...](https://www.theblock.co/post/364989/ethereum-treasuries-surpass-10-billion)

[4] [Ethereum - Tag Archives](https://cryptonews.com/tags/ethereum/)

[5] [BitMine Immersion stock pares decline after $1B buyback ...](https://za.investing.com/news/stock-market-news/bitmine-immersion-stock-pares-decline-after-1b-buyback-announcement-93CH-3808436)