BitMine Immersion Technologies has pushed its Ethereum treasury to 5,797,813 tokens after adding another 10,399 ETH over the past week, taking combined crypto, cash, marketable securities, and “moonshot” investments to $11.3 billion.
The Norwalk, Connecticut-based firm, chaired by Fundstrat co-founder Thomas “Tom” Lee, disclosed the figures in an operational update dated August 2, 2026, and confirmed that the streak of weekly Ethereum purchases running since the treasury pivot of June 30, 2025 remains intact.
The stack of Ethereum (ETH) now represents roughly 4.8% of the network’s 120.7 million token supply, placing BitMine (NYSE: BMNR) 96% of the way to its self-styled “Alchemy of 5%” objective in just thirteen months. The company remains the largest corporate holder of ETH globally and the number two crypto treasury behind Michael Saylor’s Strategy Inc. (NASDAQ: MSTR), which reportedly holds 843,775 Bitcoin (BTC) valued at approximately $57 billion.
Treasury Breakdown
According to the update, BitMine’s crypto positions as of August 2 at 4:00 pm ET consisted of 5,797,813 ETH priced at $1,880 per token via Coinbase (NASDAQ: COIN), 209 BTC, a $180 million equity stake in Beast Industries, and a $61 million stake in Eightco Holdings (NASDAQ: ORBS), which the company describes as one of the only publicly listed equities in the world offering indirect exposure to OpenAI. Cash and marketable securities on the balance sheet stand at $173 million.
The current composition marks a meaningful shift from earlier snapshots. As The Crypto Times reported in April, BitMine had just crossed the 4.8 million ETH mark, meaning the firm has added roughly one million ETH in about four months while simultaneously running down its cash pile as it pivots capital into an aggressive buyback.
Lee on July’s Outperformance
Chairman Tom Lee anchored his commentary on the market’s July performance, noting that ETH outperformed the Nasdaq 100 by 2,500 basis points, or 25% points, over the month. He called it the largest such monthly outperformance since July 2025, when Ethereum ran from $2,375 to $4,057 by the end of August that year.
“In July, ETH outperformed the Nasdaq 100 by 2,500bp (or 25% points). This is the largest outperformance since July 2025, and we believe it is reflective of the strengthening fundamentals of crypto,” Lee said in the statement.
He also flagged a historical pattern the firm has been tracking. “Since Bitmine pivoted to an Ethereum Treasury strategy on June 30 of last year, sizable outperformance of ETH vs QQQ (monthly) has typically been followed by Bitmine’s shares outperforming ETH over the following month.
Hence, Bitmine repurchased 4.5 million shares of common stock in the past week, as Bitmine’s management team continues to view Bitmine shares as attractively valued,” he continued.
Buyback Now the Largest in Crypto Treasury History
The 4.5 million shares repurchased in the past week take BitMine’s cumulative common equity buybacks past 16 million shares. Since July 1, 2026, the firm has retired 16.1 million shares of common stock under a previously authorized $4 billion share repurchase program. Lee described the effort as the largest buyback ever executed by any Ethereum, Bitcoin, or crypto Digital Asset Treasury vehicle.
The pace has been building steadily. As previously covered, the firm repurchased 5.5 million shares in the week ending July 19, then 6.1 million shares the following week, before this latest 4.5 million share tranche.
On weekly ETH purchases, the 10,399 tokens added in the past week is a notable slowdown from earlier in the year, when BitMine routinely picked up tens of thousands of ETH each week and, at one point in May, added more than 111,000 ETH in a single week. Management has attributed the tempered ETH accumulation to the redirection of capital toward the buyback.
MAVAN and Staking Economics
Staking remains a core plank of BitMine’s yield story. Total staked ETH stood at 4,917,189 as of August 2, worth $9.2 billion at $1,880 per token and equal to roughly 85% of the treasury. All of it is deployed through MAVAN, the company’s Made in America VAlidator Network, which was originally built to service BitMine’s own treasury before being extended to serve institutional investors, custodians, and ecosystem partners.
“BitMine has staked more ETH than other entities in the world. At scale (when BitMine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $291 million on an annualized basis (using 2.67% 7-day BMNR yield),” Lee said. Annualized staking revenues are now projected at $247 million, with the firm’s own staking operations generating a 7-day annualized yield of 2.67%.
Trading Liquidity, Russell Inclusion and BMNP
BMNR remains one of the most heavily traded names on Wall Street. Fundstrat data cited in the update pegs the 5-day average daily dollar volume at $698 million as of July 31, 2026, ranking the stock #180 among 5,704 US-listed equities, wedged between Schlumberger NV (rank #179) and Marsh & McLennan (rank #181).
The Russell 1000 Large-cap Index inclusion on June 26, 2026 has broadened the passive institutional shareholder base, while the Series A Preferred Stock continues to trade on the NYSE under the ticker BMNP.
The Regulatory Argument
BitMine’s leadership continues to draw a direct historical parallel between the current regulatory shift and the August 15, 1971 decision that ended the Bretton Woods system and took the US dollar off the gold standard. In the firm’s framing, the GENIUS Act and the Securities and Exchange Commission’s Project Crypto initiative are as transformational for financial services in 2026 as that 1971 move was 54 years ago, an event management argues catalysed the modern Wall Street and payments industry, and produced better long-term returns than gold itself.
The company’s July 16, 2026 Chairman’s Message, titled “ETH is the cure for the Uncanny Valley of Wealth”, was published on its investor site earlier last month.
Ether Backdrop and Institutional Backers
ETH is trading in the $1,880 zone at the time of the disclosure, with Tom Lee having previously flagged $2,000 and $2,500 as the next important upside markers, citing the ETH/BTC ratio climbing to a three-month high near 0.30 as evidence of strengthening crypto sentiment. For a fuller technical read of where analysts see ether heading this month, refer to The Crypto Times’ August 2026 ETH price outlook.
BitMine’s investor roster continues to feature ARK Invest’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Digital Currency Group (DCG), Galaxy Digital, and Tom Lee in a personal capacity. That group has publicly supported the firm’s stated goal of accumulating 5% of the ETH supply since the June 2025 strategy pivot, a mark that, on current trajectory, could be crossed within weeks.
Also Read: Strategy Sells 1,638 BTC as USD Reserve Hits $4B & STRC Buyback Doubles to $81M
