Blab Crypto
Bitmine Immersion Technologies Nears 5% Ethereum Target, Holds $11.3 B in Digital Assets
Bitmine Immersion Technologies (NYSE: BMNR) announced that its Ethereum holdings have reached 5,797,813 ETH, representing about 4.8 % of the network’s total supply of 120.7 million tokens. At a reference price of $1,880 per ETH, the stake is valued at roughly $10.9 B, bringing the company’s total cryptocurrency, cash, and strategic investment portfolio to $11.3 B as of August 2, 2026.
The company’s treasury strategy began in mid‑2025 with a goal of acquiring 5 % of the circulating ETH supply, a target it calls the “Alchemy of 5 %.” According to the disclosure, Bitmine has now achieved approximately 96 % of that objective after 13 months of weekly purchases. In the week leading up to the report, the firm bought an additional 10,399 ETH.
A majority of the Ethereum held by Bitmine is staked. The company reports that 4,917,189 ETH, or roughly 85 % of its total ETH, is currently delegated to validators. At the current market price, the staked portion is valued at about $9.2 B and is expected to generate approximately $247 M in annualized staking revenue based on recent yield rates.
Beyond Ethereum, Bitmine’s balance sheet includes 209 BTC, $173 M in cash and marketable securities, a $180 M investment in Beast Industries, and a $61 M position in Eightco Holdings. These holdings, together with the cryptocurrency assets, contribute to the overall $11.3 B valuation.
The company has also intensified its share‑repurchase program. In the most recent week, Bitmine bought back 4.5 M common shares, bringing the total repurchases under its $4 B authorized program to 16.1 M shares since July 1, 2026. The program is described by the company as one of the largest executed by a crypto‑focused digital asset treasury.
Chairman Tom Lee highlighted Ethereum’s performance relative to the Nasdaq 100 during July, noting that the token outperformed the index by a notable margin. Bitmine’s strategy is framed around institutional interest in tokenization on the Ethereum network and broader adoption trends, which the firm views as supportive of its accumulation and staking approach.
The update underscores the growing role of corporate holders in the Ethereum ecosystem. With its stake approaching the 5 % threshold, Bitmine remains focused on expanding its position while returning capital to shareholders through share buybacks. The company’s next steps will likely involve continued weekly purchases, monitoring of staking yields, and potential adjustments to its investment mix as market conditions evolve.
The company’s treasury strategy began in mid‑2025 with a goal of acquiring 5 % of the circulating ETH supply, a target it calls the “Alchemy of 5 %.” According to the disclosure, Bitmine has now achieved approximately 96 % of that objective after 13 months of weekly purchases. In the week leading up to the report, the firm bought an additional 10,399 ETH.
A majority of the Ethereum held by Bitmine is staked. The company reports that 4,917,189 ETH, or roughly 85 % of its total ETH, is currently delegated to validators. At the current market price, the staked portion is valued at about $9.2 B and is expected to generate approximately $247 M in annualized staking revenue based on recent yield rates.
Beyond Ethereum, Bitmine’s balance sheet includes 209 BTC, $173 M in cash and marketable securities, a $180 M investment in Beast Industries, and a $61 M position in Eightco Holdings. These holdings, together with the cryptocurrency assets, contribute to the overall $11.3 B valuation.
The company has also intensified its share‑repurchase program. In the most recent week, Bitmine bought back 4.5 M common shares, bringing the total repurchases under its $4 B authorized program to 16.1 M shares since July 1, 2026. The program is described by the company as one of the largest executed by a crypto‑focused digital asset treasury.
Chairman Tom Lee highlighted Ethereum’s performance relative to the Nasdaq 100 during July, noting that the token outperformed the index by a notable margin. Bitmine’s strategy is framed around institutional interest in tokenization on the Ethereum network and broader adoption trends, which the firm views as supportive of its accumulation and staking approach.
The update underscores the growing role of corporate holders in the Ethereum ecosystem. With its stake approaching the 5 % threshold, Bitmine remains focused on expanding its position while returning capital to shareholders through share buybacks. The company’s next steps will likely involve continued weekly purchases, monitoring of staking yields, and potential adjustments to its investment mix as market conditions evolve.
