BitMine Immersion Technologies, Inc. (NYSE: BMNR), the Norwalk, Connecticut-based blockchain infrastructure company chaired by Fundstrat co-founder Thomas “Tom” Lee, disclosed on Sunday, August 31, 2026, that its Ethereum (ETH) holdings have climbed to 5,901,112 tokens. The firm stated that its combined crypto, cash, and equity position now totals $15.6 billion.
According to the company’s disclosure issued through PR Newswire at 08:30 ET, the balance was measured as of August 30, 2026, at 3:00 pm ET, using a reference price of $2,511 per ETH sourced from Coinbase (NASDAQ: COIN).
The stake represents approximately 4.9% of the total ETH supply of 120.7 million tokens, leaving the firm within 0.1 percentage points of the “Alchemy of 5%” target it set 15 months ago at the launch of its Ethereum Treasury Strategy on June 30, 2025.
Weekly acquisition and portfolio composition
BitMine acquired 53,501 ETH over the past week, extending a run of consecutive weekly purchases to 65 weeks since the strategy’s inception. Alongside the Ethereum position, the company reports holding 211 Bitcoin (BTC), a $180 million equity stake in Beast Industries, an $81 million stake in Eightco Holdings (NASDAQ: ORBS), and $541 million in cash and marketable securities. The Eightco stake is described in the release as one of the few publicly listed vehicles offering indirect exposure to OpenAI.
The company had previously reported a treasury value of $14.9 billion on August 24, based on 5,847,611 ETH at a reference price of $2,440. The roughly $700 million week-on-week increase in aggregate value reflects both the fresh purchases and a modest rise in ETH’s spot reference price during the review period.
Staking exposure and projected yield
Of the 5.90 million ETH held, 5,067,309 tokens (86% of the position) are currently staked, representing a market value of $12.7 billion at the disclosed reference price. In prepared commentary accompanying the release, Lee said BitMine’s own staking operations generated a seven-day annualized yield of 2.63%, translating to projected annualized staking revenue of approximately $335 million.
Under a scenario in which the entire position is staked through the firm’s Made in America Validator Network (MAVAN) platform and its staking partners, projected staking rewards rise to $390 million on an annualized basis.
MAVAN, an institutional-grade Ethereum staking platform launched earlier in 2026, was originally developed for BitMine’s own treasury. According to the release, it is intended to expand to serve third-party institutional investors, custodians, and ecosystem partners.
Ranking within the corporate treasury landscape
BitMine remains the largest publicly disclosed corporate Ethereum treasury and the second largest corporate digital asset treasury overall. The top position is held by Strategy Inc. (NASDAQ: MSTR), which the release references as owning 840,447 BTC valued at approximately $66 billion.
Citing research from Fundstrat, BitMine stated that BMNR shares traded an average daily dollar volume of $1.36 billion over the five sessions ending August 29, ranking 62nd among 5,704 US-listed stocks, positioned behind Texas Instruments and ahead of UnitedHealth Group. The stock was added to the Russell 1000 large-cap index on June 26, 2026, and the company’s Series A Perpetual Preferred Stock trades on the NYSE under the symbol BMNP.
Stock and asset market context
BMNR closed at $23.80 on Friday, August 28, 2026, down $1.83 or 7.14% in the session, based on Yahoo Finance quote data, with a pre-market indication of $23.80 on the following trading morning.
The stock’s 52-week range spans $12.80 to $65.60, and intraday market capitalization was listed at approximately $14.36 billion. Reported trailing twelve-month earnings per share stood at a loss of $4.50, and the consensus one-year analyst price target compiled on the platform was $31.87.
Ether, the native asset of the Ethereum network, traded near $2,449 in the same window, with a reported market capitalization of about $295.6 billion and 24 hour spot volume near $14.6 billion. Public network data referenced in prior reporting indicates that around one third of the total ETH supply is currently staked across the validator set.
Management commentary on macro backdrop
Lee said in the release that ETH is the best performing macro asset in the third quarter of 2026 to date, outperforming the S&P 500 by 5,430 basis points through the prior Friday, and that Ethereum, Bitcoin and Solana rank as the three top performing assets since June 30.
He cited several factors that BitMine’s management views as potential near term catalysts, including a CLARITY Act vote scheduled in mid-September, renewed crypto buying by Korean investors accompanied by rotation away from artificial intelligence equities, and the projected bottoming of the four year crypto cycle within the coming weeks.
On the ETH/BTC ratio, currently referenced at 0.02994 in prior disclosures, Lee argued that prior upward moves in the ratio coincided with periods of expanded Ethereum utility, citing Initial Coin Offerings during 2017 and 2018, non-fungible tokens between 2020 and 2021, and stablecoin adoption in 2025. He said the firm expects the next leg to be driven by on-chain tokenization of financial assets and by agentic artificial intelligence applications.
Lee also reiterated BitMine’s view that the GENIUS Act and the Securities and Exchange Commission’s (SEC) Project Crypto rank in significance with the August 15, 1971 US decision to end the Bretton Woods system, which removed the dollar’s convertibility to gold.
Institutional backers and treasury history
The disclosure identifies BitMine’s institutional backers as including ARK Investment Management (headed by Cathie Wood), MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Digital Currency Group (DCG), Galaxy Digital, and Lee personally.
BitMine’s treasury has expanded rapidly since Lee assumed the chairmanship in mid-2025 and pivoted the company from a Bitcoin mining focus to Ethereum accumulation. Prior coverage tracked the firm’s progression from approximately 3.5 million ETH in early November 2025 to 3.6 million ETH later that month, reaching about 4.47 million ETH by early March 2026 before crossing 5 million tokens later in the year.
Forward looking statement and risk factors
The company’s release notes that its forward looking statements are subject to material risks, including digital asset price volatility, reliance on third party pricing sources for valuation, changes to Ethereum staking mechanics, cybersecurity and slashing risks, regulatory developments in the United States and abroad, and the timing and outcome of pending legislative items including the CLARITY Act. Readers are directed to the risk factors set out in BitMine’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025, filed with the SEC on November 21, 2025, and subsequent quarterly filings available on SEC website.
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