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.
