Bitmine Immersion Technologies raised its ethereum holdings to 5,797,813 ETH, worth roughly $11.3 billion combined with its other crypto, cash and investment assets. The stake now equals 4.8% of ether's circulating supply, putting the company 96% of the way toward its long-standing goal of owning 5% of all ether in circulation.
Bitmine Immersion Technologies raised its ethereum treasury to 5,797,813 ETH as of Aug. 2, part of a crypto, cash and investment portfolio the company now values at roughly $11.3 billion. The position equals 4.8% of ether's estimated circulating supply of 120.7 million tokens, leaving Bitmine 96% of the way toward its goal of owning 5% of all ether in circulation.
Treasury Holdings Widen Beyond Ether
Alongside its ether, Bitmine also held 209 bitcoin, $173 million in cash and marketable securities, an $180 million stake in Beast Industries and a $61 million position in Eightco, based on Monday's disclosure. Bitmine remains the world's largest corporate ethereum treasury and the second-largest digital asset treasury overall, behind Strategy, whose bitcoin holdings are larger by market value. The company launched its ethereum accumulation strategy in June 2025.
Staking Adds a Revenue Stream
A large share of the treasury already earns income: Bitmine has approximately 4,917,189 ETH, valued at $9.2 billion, staked through its own Made in America Validator Network, or MAVAN. Management projects annualized staking revenue of about $247 million at current yields, with potential rewards reaching roughly $291 million once more holdings are fully deployed into staking.
Buybacks Accompany the Buildup
Chairman Tom Lee said ethereum outperformed the Nasdaq 100 by 25 percentage points during July, which he sees as a sign of improving fundamentals across the crypto sector. He added that Bitmine purchased 10,399 ETH over the past week and has bought more ether every week since adopting the treasury strategy. The company also repurchased 4.5 million common shares over the same week, bringing buybacks since July 1 to 16.1 million shares under its $4 billion repurchase program.
Backers Include Cathie Wood and Pantera
Sources: Bitmine Immersion Technologies, Bitcoin News
Trading involves risk.
Risk Disclaimer
