Bitmine buys 7,430 ETH as total holdings reach 5.78 million tokens

Bitmine Immersion Technologies added 7,430 ether to its corporate treasury, lifting total ETH holdings to 5,777,468 tokens valued at about $10.9 billion.

"We have bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025," Thomas "Tom" Lee, Chairman of Bitmine, said in a press release.

The NYSE-listed company, which trades under BMNR, now controls 4.8% of Ethereum's circulating supply of 120.7 million tokens, putting it 96% of the way to its stated goal of acquiring 5%. The reduced pace of weekly purchases — down from prior weeks — reflects that Bitmine also repurchased 5.5 million common shares at an average price of $15.62 under its $4 billion buyback program, Lee said. Total crypto, cash and marketable securities reached $11.5 billion, including 207 bitcoin, a $180 million stake in Beast Industries and $385 million in cash.

The accumulation positions Bitmine as the largest corporate Ethereum treasury globally and the second-largest corporate crypto treasury behind Strategy Inc., which holds about $55 billion in bitcoin. At current prices, the remaining 507,000 ETH needed to reach the 5% threshold would cost roughly $953 million, suggesting the company may complete its target within months if it maintains its weekly buying cadence.

About 4.92 million ETH — 85% of Bitmine's total holdings — is staked through MAVAN, the Made-in-America Validator Network the company launched in 2026. The staked position generates a 7-day annualized yield of 2.67%, producing projected annualized staking revenue of $247 million, according to the company. At full scale, when all Bitmine's ETH is staked, annualized rewards could reach $290 million.

Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026. Its Series A Preferred Stock trades on the NYSE under BMNP. The stock ranks among the most actively traded in the US, with average daily dollar volume of $579 million as of July 17, according to Fundstrat data.

The company's institutional backers include ARK Invest's Cathie Wood, Founders Fund, Pantera Capital, Galaxy Digital and Bill Miller III, all of whom have supported Bitmine's goal of acquiring 5% of ETH.

This article is for informational purposes only and does not constitute investment advice.