Key Highlights
- Bitmine added 7,391 ETH, taking its total Ethereum holdings to 5.81 million ETH.
- The company’s ETH treasury represents approximately 4.8% of Ethereum’s total supply.
- About 5.07 million ETH, or roughly 87% of its holdings, is currently in staking positions.
Bitmine Immersion Technologies, an Ethereum-focused treasury firm, has increased its Ethereum (ETH) holdings to 5.81 million ETH after purchasing another 7,391 ETH over the past week.
According to the official release, the company said its ETH holdings represented approximately 4.8% of Ethereum’s 120.7 million total supply as of August 9. At an ETH price of $1,928, the holdings were worth about $11.2 billion.
Bitmine has continued buying ETH every week since launching its Ethereum treasury strategy on June 30, 2025.
Bitmine continues weekly ETH purchases
The latest purchase follows several large ETH acquisitions reported by Bitmine over the past two months. In July, the company reported holdings of 5.77 million ETH after purchasing 27,801 ETH. An earlier update in June showed Bitmine holding roughly 4.7% of Ethereum’s supply.
The company has described its goal of accumulating 5% of Ethereum’s total supply as the “Alchemy of 5%” strategy. Based on its latest reported holdings, BitMine now holds approximately 4.8% of the supply cited in its update.
More than 5M ETH is staked
A large portion of Bitmine’s Ethereum holdings is being used for staking. The company reported 5,067,309 ETH in staking positions as of August 9, valued at approximately $9.8 billion based on the stated ETH price. That represents about 87% of Bitmine’s total ETH holdings.
Bitmine said its staking operations generated a 7-day yield of 2.63%, which the company currently translates into approximately $257 million in annualized staking revenue. The company also provided a higher projection of about $294 million in annualized rewards if its entire ETH position were eventually staked through MAVAN and its staking partners.
The projected figure is based on the company’s stated staking assumptions and is not a guaranteed return.
Bitmine reports $11.6B in combined holdings
Alongside its ETH treasury, Bitmine reported holdings that included 209 BTC, $104 million in cash and marketable securities, a $180 million stake in Beast Industries and a $69 million investment in Eightco Holdings.
The company placed the combined value of its crypto holdings, cash, marketable securities and other investments at approximately $11.6 billion.
BMNR shares remain volatile
Bitmine’s latest treasury update comes as its stock continues to trade below its level at the beginning of the year.
According to Yahoo Finance data (as of 2:31 PM UTC), BMNR was at $18.32, down 2.68% during the session. The stock’s intraday range was $18.29 to $18.86, while its market capitalization was around $11.05 billion at the time of the snapshot.
The same data showed BMNR up approximately 26.65% over the previous month, but still down about 39.66% year to date.
The stock performance comes as the company continues to expand its ETH holdings and staking operations, giving the market a separate measure of how the company’s equity has performed alongside its growing crypto treasury.
Share buybacks continue
Bitmine also reported another round of share repurchases. The company bought back 3 million common shares during the past week, taking cumulative repurchases since July 1 to approximately 19.1 million shares. The purchases are being made under a previously authorized $4 billion share repurchase program.
Chairman Thomas “Tom” Lee has previously described the company’s shares as undervalued. That assessment reflects management’s position and is separate from the market price of BMNR.
MAVAN supports Bitmine’s Ethereum staking
Bitmine’s Ethereum staking operations are supported in part by MAVAN, the company’s institutional staking and validator infrastructure.
Bitmine originally developed MAVAN to support its own Ethereum treasury strategy and has indicated plans to expand the platform to institutional investors, custodians and other market participants.
The latest ETH accumulation comes as staking becomes a larger part of Bitmine’s treasury strategy. The company has previously reported that changes in Ethereum’s price can have a significant impact on its financial results.
Last month, Bitmine reported a multibillion-dollar quarterly loss, while staking revenue emerged as an increasingly important source of income. The results highlight the company’s approach of holding a large portion of its assets in ETH while using staking to generate additional revenue from part of its Ethereum holdings.
Bitmine’s ETH treasury keeps growing
Bitmine’s latest update brings its Ethereum holdings to 5.81 million ETH, up from 5.77 million reported in July.
More than 5.06 million ETH is now staked, while the company continues its weekly purchases and share buyback program.
The latest figures show how quickly Bitmine’s Ethereum treasury has expanded since the strategy began in June 2025. At the same time, its stock performance and previous financial results show that the company remains exposed to movements in Ethereum’s price and the financial performance of its treasury strategy.
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