Bitmine Immersion Technologies added 9,926 ETH over the past week, pushing its total holdings to 5.815 million ETH worth about $11 billion. That stake now represents roughly 4.8% of all ETH in circulation, just 0.2% short of the firm's stated "Alchemy of 5%" target.
Bitmine closes in on its 5% target
Bitmine Immersion Technologies bought another 9,926 ETH this past week, bringing its total to 5.815 million ETH worth about $11 billion. Those holdings equal roughly 4.8% of all ETH in circulation, leaving the firm just 0.2% away from the goal it calls "Alchemy of 5%."
Beyond accumulation, Bitmine has also staked 5,067,309 ETH worth $9.6 billion at a price of $1,893 per ETH. Chairman Tom Lee said: "Bitmine has staked more ETH than other entities in the world." The firm projects a $287 million annualized staking reward once its ETH is fully staked through MAVAN and its partners, using a 2.61% 7-day BMNR yield.
The firm is also buying back its own shares. It repurchased 1.7 million shares over the past week, pushing cumulative repurchases since July 1 past 20.8 million shares under a previously authorized $4 billion program. Bitmine was also added to the Russell 1000 Large-cap index on June 26, 2026.
Ethereum's market signals stay mixed
Ether was trading at $1,899.70 at the time of writing. Bitmine's stock (BMNR), meanwhile, fell 1.33% in 24 hours to $18.73.
However, Ethereum validator activity dropped to about 2.2 million ETH on August 17. The exit queue has stayed minimal, which could mean more ETH is waiting to enter the validator set than to leave it — a possible sign of sustained staking demand.
Meanwhile, Sharplink, the second-largest ETH digital asset treasury, reached a total staking reward of 24,338 ETH. Its total holdings hit 868,699 ETH worth $1.65 billion.
Source: AMBCrypto
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