The filing reinforces Bitmine's ETH accumulation narrative and aggressive buyback, but lacks hard revenue/earnings data. Monitor ETH price trajectory and regulatory progress (GENIUS Act) as these drive portfolio value and sentiment. The large buyback signals management's conviction but does not alter the fundamental dependence on crypto market swings.
Price Chart
Executive Summary
Bitmine provided an August 2026 operational update highlighting crypto and cash holdings of $11.3 billion, including 5.8 million ETH (4.8% of circulating supply), $173 million in cash, and $241 million in 'moonshot' stakes (Beast Industries, Eightco). The company also repurchased 4.5 million shares in the past week ($4B program) and disclosed projected annualized staking revenue of $247 million. No income statement figures were reported.
Key Facts
- Total crypto, cash, and moonshot holdings: $11.3 billion as of August 2, 2026
- ETH holdings: 5,797,813 tokens (4.8% of 120.7M ETH supply); 209 BTC; $180M stake in Beast Industries; $61M stake in Eightco (ORBS); $173M cash & marketable securities
- Staked ETH: 4,917,189 ($9.2B at $1,880/ETH); annualized staking revenue projected at $247 million
- Repurchased 4.5 million common shares in the past week; 16.1 million shares repurchased since July 1, 2026 under $4B buyback program
- Added to the Russell 1000 Large-cap index on June 26, 2026
- Average daily dollar volume of $698 million (5-day avg as of July 31, 2026)
Financial Impact
No GAAP financials disclosed. Total crypto portfolio valued at ~$11.3B; projected annualized staking revenue of $247M is forward-looking and not yet realized.
Risk Factors
- Extreme reliance on ETH price volatility; a 10% ETH drop erases ~$1.1B of portfolio value
- Uncertainty around GENIUS Act and SEC Project Crypto — regulatory outcomes could affect operations
- Projected staking revenue ($247M) is forward-looking and may not materialize if staking yields decline or ETH price falls
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-035752 |
| Exhibit: ex99-1.htm | 0001493152-26-035752 |
| Document: 0001493152-26-035752-index-headers.html | 0001493152-26-035752 |
| Document: 0001493152-26-035752-index.html | 0001493152-26-035752 |
| Document: 0001493152-26-035752.txt | 0001493152-26-035752 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $25.76 $23.60 | ▼ −8.39% | ▼ −7.93% | $26.58 (+3.16%) |
Aug 31, 2026 4w ago | 8-K | $25.32 $23.37 | ▼ −7.70% | ▼ −7.01% | $26.58 (+4.96%) |
Aug 24, 2026 5w ago | 8-K | $24.14 $24.82 | ▲ +2.82% | ▲ +2.50% | $26.58 (+10.09%) |
Aug 17, 2026 6w ago | 8-K | $18.73 $18.28 | ▼ −2.40% | ▼ −1.73% | $26.58 (+41.88%) |
Aug 14, 2026 7w ago | 8-K | $18.08 $18.73 | ▲ +3.60% | ▲ +4.07% | $26.58 (+46.99%) |
Aug 10, 2026 7w ago | 8-K | $18.10 $18.09 | ▼ −0.06% | ▲ +0.26% | $26.58 (+46.82%) |
Aug 3, 2026 8w ago | 8-K | $17.42 $18.10 | ▲ +3.90% | ▲ +2.10% | $26.58 (+52.55%) |
Jul 27, 2026 9w ago | 8-K | $17.92 $17.57 | ▼ −1.95% | ▼ −2.19% | $26.58 (+48.30%) |
Jul 20, 2026 10w ago | 8-K | $16.63 $17.23 | ▲ +3.61% | ▲ +2.77% | $26.58 (+59.80%) |
Jul 16, 2026 11w ago | 8-K | $15.44 $15.69 | ▲ +1.62% | ▲ +2.61% | $26.58 (+72.12%) |
US Market Status
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