BitMine Immersion Technologies, the Norwalk, Connecticut-based digital asset treasury company chaired by Fundstrat co-founder Thomas “Tom” Lee, has published its weekly holdings update, disclosing that its combined crypto, cash, and strategic equity position has expanded to $14.9 billion as of August 24, 2026.
According to the update posted on the company’s official X handle, BitMine’s Ethereum position now stands at 5,847,611 ETH, valued using a reference price of $2,440 per ETH sourced from Coinbase. At that mark, the ETH stack alone is worth approximately $14.27 billion, representing the bulk of the treasury.
The company also confirmed it continues to hold 210 Bitcoin (BTC), unchanged from the prior weekly report, along with a $180 million equity stake in Beast Industries, the company associated with creator MrBeast, and an $89 million stake in Eightco Holdings (NASDAQ: ORBS), both classified by BitMine as “moonshot” investments. Total cash and marketable securities on the balance sheet rose sharply to $308 million, a jump of roughly $230 million from the $78 million reported one week earlier.
A $3.5 Billion Weekly Swing Driven by Both Accumulation and ETH’s Rally
Compared with the August 17 disclosure, when the treasury stood at $11.4 billion with 5,815,164 ETH valued at $1,893 per token, the latest update marks a $3.5 billion swing in headline holdings inside seven days. Two forces are behind that jump.
First, BitMine added roughly 32,447 ETH over the past week, extending the weekly-buying cadence the company has maintained without interruption since its Ethereum Treasury Strategy was formally launched on June 30, 2025.
Second, and more consequential for the dollar figure, ETH itself has re-rated. The reference price used in the current update, $2,440, is up nearly 28.9% from the $1,893 mark quoted just seven days earlier. That price shift alone, applied to a treasury of nearly 5.85 million ETH, accounts for the majority of the week-on-week gain in the fair value of the position.
The Crypto Times had earlier flagged the underlying move, noting how Ethereum’s rally toward $2,100 was already adding more than $1.1 billion to BitMine’s mark-to-market position even before this week’s higher print.
The Eightco stake also ticked higher, rising from $73 million on August 17 to $89 million in the current update, a $16 million increase that reflects mark-to-market gains on the ORBS position. Eightco Holdings has, in prior BitMine communications, been described as one of the very few publicly listed equities providing indirect exposure to OpenAI, making it a notable line item in the company’s “moonshots” bucket.
The “Alchemy of 5%” Math and Where the Treasury Stands on ETH Supply
With 5,847,611 ETH on its books, BitMine’s Ethereum holdings now represent approximately 4.84% of Ethereum’s total circulating supply of roughly 120.7 million tokens. That leaves the company within touching distance of the “Alchemy of 5%” milestone that Chairman Tom Lee has publicly articulated as the strategic goal for the firm’s Ethereum accumulation program.
At current supply, the 5% target translates to roughly 6.035 million ETH, meaning BitMine is now approximately 187,000 ETH away from crossing that line. Based on the recent weekly acquisition rate of about 32,000 ETH per week, that gap could close over the next several weeks if pace holds, subject to the discretion of the company’s board and market conditions.
BitMine’s status as the world’s largest corporate Ethereum treasury remains unchallenged. Prior disclosures identified the company as the #1 Ethereum treasury and #2 global crypto treasury, behind only Strategy Inc. (NASDAQ: MSTR), the Michael Saylor-led firm that holds the largest publicly disclosed Bitcoin position.
Stock Structure, Preferred Instrument and Institutional Backing
The company reminded market participants that its capital structure includes two listed instruments. $BMNR trades as common equity on the New York Stock Exchange, while $BMNP, the Series A Perpetual Preferred Stock carrying a 9.50% coupon, trades on the same exchange.
The preferred was issued at $80 per share on June 10, 2026, with the offering raising approximately $273.8 million in net proceeds, with dividends paid on a weekly cadence per the certificate of designations.
Just days before this update, on August 14, 2026, BitMine’s board declared seventeen additional cash dividends on the BMNP preferred, with per-share amounts ranging between $0.1583 and $0.2639 and record dates running through December 18, 2026.
BitMine’s investor register continues to feature what the company itself describes as a “premier group” of backers, including ARK Invest’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, DCG and Galaxy Digital, with Chairman Tom Lee also participating as a personal investor. The company was added to the Russell 1000 large-cap index on June 26, 2026.
Staking, MAVAN and the Cash Story
BitMine’s own staking infrastructure, the Made in America VAlidator Network (MAVAN), has been positioned as a central pillar of the company’s yield strategy. In its August 17 filing, the company disclosed that 5,067,309 ETH, or approximately 87% of the treasury, was staked, generating a 7-day yield of 2.61% on an annualized basis and projected annualized staking revenue of roughly $250 million at that yield level.
The sharp rebuild of cash reserves, from $78 million on August 17 to $308 million on August 24, is notable. As reported in The Crypto Times’ earlier coverage of BitMine’s shrinking cash line, the treasury had drawn down cash meaningfully over the prior five weeks as it funded weekly ETH purchases and share repurchases under the previously announced $4 billion buyback program. This week’s $308 million print suggests fresh liquidity has been added to the balance sheet, though the company has not, as of this update, quantified the source in the X post.
The Bigger Picture: Ethereum as a Corporate Treasury Asset
The August 24 disclosure lands at a moment when Ethereum treasury strategies are gaining fresh attention across public markets. BitMine’s cadence- weekly disclosures on X and PR Newswire, weekly buys, weekly staking updates, and weekly preferred-stock dividends- has effectively set a template for how a public Ethereum treasury company communicates with investors.
That template is now being read against a market where ETH’s price has moved decisively higher over the past week, tokenization narratives are back in focus, and, as Chairman Tom Lee has argued in prior Chairman’s Messages, the case for treating ETH as a productive treasury reserve rather than a speculative bet is being reinforced by every additional dollar of staking revenue booked against a rising asset price.
For the next data point, market participants will be watching whether BitMine crosses the 5% supply threshold in September, whether the pace of weekly buys accelerates given the higher cash cushion, and whether ETH holds above the price levels used in this week’s mark.
Also Read: Strategy Sells $2 Billion in MSTR Shares, Repurchases $136 Million of STRC
