Bitmine, under Chairman Tom Lee, acquired 10,399 ETH last week, valued at approximately $19.1 million. Lee emphasized ether’s significant outperformance against the Nasdaq in July, indicating robust crypto fundamentals. This purchase, alongside a 4.5 million share stock buyback, brings Bitmine’s total recent repurchases to 16 million shares. The company now holds nearly 5.8 million ETH, representing 4.8% of Ethereum’s circulating supply. Lee noted that ETH’s July outperformance, the strongest since July 2025, aligns with historical trends where such performance preceded stock gains. Bitmine’s reserves total $11.3 billion, including 209 BTC, $173 million in cash, and equity stakes. The firm stakes 4.9 million ETH via its MAVAN platform, projecting $247 million in annual staking revenue. Shares dipped 2.1% premarket as ETH fell to $1,842. Meanwhile, Strategy (MSTR) sold 1,638 BTC while repurchasing stock. Binance continues expanding its financial services beyond trading.