Bitmine Technologies Expands Ether Treasury, Nearing 5% Supply Target

Bitmine Immersion Technologies has announced a significant increase in its ether treasury, reaching 5,797,813 ETH. This figure represents 4.8% of the total supply of the world's second-largest cryptocurrency, positioning Bitmine as the leading corporate ether holder globally.

With ETH valued at $1,880, the company's Ethereum holdings are approximately $10.9 billion. This makes Bitmine the second-largest corporate crypto treasury overall, trailing only Strategy's $57 billion bitcoin position.

The recent increase of 10,399 ETH over the past week brings Bitmine to 96% of its stated goal to hold 5% of ether's 120.7 million-token supply. Of the total ETH held, 4,917,189 tokens, valued at $9.2 billion, are staked through the company's MAVAN platform and its staking partners. The company projects annual staking revenues of $247 million from these activities.

Beyond its ether holdings, Bitmine also reported owning 209 Bitcoin, a $180 million stake in Beast Industries, and a $61 million stake in Eightco Holdings. The company's total cash and marketable securities amounted to $173 million. Combined, Bitmine's crypto holdings, cash, marketable securities, and other investments totaled $11.3 billion.

Bitmine Chairman Tom Lee affirmed the company's confidence in ether, noting that the asset had outperformed the Nasdaq 100 by 2,500 basis points in July. This marked ether's most significant monthly outperformance against the index since July 2025. Lee also stated that Bitmine repurchased 4.5 million common shares in the past week, citing the company's view of its stock as attractively valued.

These buybacks contribute to a total of 16.1 million shares repurchased since July 1, under the company's previously authorized $4 billion repurchase program. On Monday, ether traded above $1,800, experiencing a 5.23% decrease over the preceding 24-hour period.