BitMine Crypto Strategy Combines Aggressive ETH Accumulation With BTC Mining, as DoubleZero Establishes 3M SOL Stake Pool

BitMine Immersion Technologies (BMNR), led by Chairman Tom Lee, announced a $1 billion stock repurchase program, approved by its board, to be executed through open market and negotiated transactions. The company holds $2.77 billion in crypto and cash, including 625,000 ETH valued at $2.35 billion and $401.4 million in unencumbered cash, with a net asset value per share of $22.76.

Despite the buyback announcement, BMNR shares were down 6% in premarket trading, trading at approximately $32.90, compared to the previous close of $35.11. This follows a 700% surge over the past 30 days, though the stock remains below its recent high of over $100. The buyback aligns with BitMine’s strategy to achieve “the alchemy of 5%” of ETH supply, with potential to repurchase shares when their price falls significantly below the net asset value.

Institutional buying reduces circulating ETH supply, potentially driving up prices due to scarcity, which could benefit retail traders holding ETH. Large institutional holders may reduce volatility over time, as they’re less likely to sell impulsively compared to retail traders, creating a more predictable market.

Institutional participation often attracts more market infrastructure (e.g., custody solutions, trading platforms), improving liquidity and making it easier for retail traders to enter/exit positions. Institutional involvement signals confidence in Ethereum, potentially boosting mainstream adoption and supporting long-term value for retail portfolios.

If institutions accumulate large positions, they could influence market dynamics, potentially manipulating prices or creating barriers for retail traders to compete. Increased demand from institutions could drive up gas fees or transaction costs on Ethereum’s network, impacting retail traders who rely on frequent or smaller transactions. A few institutions holding significant ETH could centralize influence, reducing the decentralized ethos of Ethereum and potentially exposing retail traders to decisions made by a handful of players.

Short-term price swings could occur if institutions execute large buybacks or liquidations, catching retail traders off-guard. BitMine’s $1B buyback and substantial ETH holdings (625,000 ETH, ~$2.35B) exemplify this institutional race. Their strategy to buy shares when prices fall below net asset value ($22.76 vs. $32.90 premarket) suggests confidence in ETH’s long-term value, which could stabilize sentiment. However, the 6% premarket drop in BMNR despite the buyback shows market reactions can be unpredictable, potentially impacting retail traders’ sentiment.

The institutional supply race could improve the market for retail traders by driving price appreciation, liquidity, and adoption, but risks like higher costs, volatility, and concentration remain. Retail traders should stay informed, diversify strategies, and monitor network costs to navigate this evolving landscape.

BitMine has aggressively expanded its Ethereum (ETH) holdings, aiming to acquire up to 5% of the total ETH supply. As of July 2025, they hold over 625,000 ETH, valued at approximately $2.35 billion, making them one of the largest corporate ETH holders globally. The company raised $250 million through a private placement in June 2025 to fund ETH acquisitions, followed by plans to raise an additional $2.5 billion to further expand their ETH treasury.

BitMine aims to increase ETH per share through: Reinvestment of cash flows. Capital market activities, leveraging market volatility for cost-efficient acquisitions. Staking yields, capitalizing on Ethereum’s proof-of-stake model to generate passive income.

BitMine collaborates with crypto-native firms like FalconX, Kraken, Galaxy Digital, BitGo, and Fidelity Digital to enhance its ETH treasury management and custody. The company positions itself as the “MicroStrategy of Ethereum,” aiming to mirror MicroStrategy’s Bitcoin accumulation model but with ETH’s yield-generating potential through staking and DeFi applications.

DoubleZero Establishes 3M SOL Stake Pool to Strengthen Solana Validator Network

JULY 30, 2025 – DoubleZero, a high-performance fiber network powering the next evolution of blockchain, has established a 3,000,000 SOL stake pool to accelerate validator growth and performance across the Solana ecosystem. The pool will be used to support early adopters on the DoubleZero testnet and lay the foundation for the broader decentralization of the DoubleZero mainnet-beta network, launching this fall.

Today validators co-locate in a few geographic regions–largely due to the limitations of the public internet. DoubleZero’s dedicated fiber network changes that, enabling reliable, low-latency performance in new parts of the world. The stake pool directly incentivizes validators operating in these emerging geographies, helping expand where validators can run profitably.

Profits from the stake pool will fund the continued expansion of DoubleZero’s network, connecting more regions globally and extending access to high-performance blockchain infrastructure. In this first phase of the DoubleZero Delegation Program, stake is delegated to Solana validators active on the DoubleZero testnet, which assist in testing and qualifying the network.

This stake will remain with eligible validators through the DoubleZero mainnet-beta launch, after which the next phase of the program begins. Phase two begins this fall with the launch of DoubleZero’s mainnet-beta. Following the launch, the stake pool will transition to supporting validator expansion in geographically underrepresented regions, with a formal application process and location-specific eligibility criteria.

Geographic decentralization and distribution expands market access globally, and increases fairness in distributed systems. It also strengthens the resilience of blockchain networks, improves global performance, and ensures no single region can dominate or disrupt the network, said Austin Federa, co-founder of DoubleZero. “This stake pool is the first step in that mission– supporting those participating today and preparing to support validators in emerging regions tomorrow.

DoubleZero’s testnet is already active, with 142 connected nodes representing 3.29% of total staked SOL. As validator adoption of DoubleZero grows, Solana’s network performance improves for all participants. Validators who run on DoubleZero also receive a network badge on validators.app, helping them stand out to stakers.

Anyone interested in staking to support DoubleZero can contribute to the pool today. Further information about validator eligibility will be shared during the mainnet-beta launch. As part of the program, DoubleZero is launching DoubleZero Staked SOL (dzSOL), a staking token representing delegated stake in the network. The dzSOL contract address

DoubleZero powers the next evolution of blockchain networks with increased bandwidth, low-latency fiber infrastructure, and other services that outpace today’s internet — delivering the speed, reliability, and geographic decentralization needed for truly global, scalable blockchain applications.

Phase one is already underway, with stake delegated to active validators on the DoubleZero testnet, which currently represents 3.29% of all staked SOL. These early adopters will retain their stake through the upcoming mainnet-beta launch, reinforcing the network’s foundation as it transitions to the full rollout.

Phase two, launching this fall, will redirect the pool to support validators in geographically underrepresented regions. By incentivizing high-quality operators outside traditional infrastructure hubs, DoubleZero aims to promote true decentralization, boost network resiliency, and improve global performance.

This rollout is a push towards building a more equitable and distributed validator ecosystem on Solana, one that rewards early contributors and expands access to capital to operators in traditionally overlooked regions.