Key Takeaways:
Bitmine Immersion Technologies added 7,430 ETH to its corporate treasury, lifting total holdings to 5.78 million tokens worth $10.9 billion.
"Bitmine repurchased approximately 5.5 million shares of common stock in the past week at an average price of $15.6156. We view the purchase of our common shares as accretive to shareholder value," Thomas "Tom" Lee, Chairman of Bitmine, said.
The NYSE-listed company now holds 4.8 percent of Ethereum's total circulating supply of 120.7 million tokens, making it the largest disclosed corporate ETH treasury globally. Bitmine's total crypto, cash, and marketable securities stand at $11.5 billion, including 207 Bitcoin, a $180 million stake in Beast Industries, and $58 million in Eightco Holdings. The company has staked 4.92 million ETH — 85 percent of its holdings — on its MAVAN platform, generating a 2.67 percent annualized yield and $247 million in projected annualized staking revenue.
The accumulation puts Bitmine 96 percent of the way toward its "Alchemy of 5%" goal of owning 5 percent of all ETH, a target it set just 12 months ago. The company has bought ETH every week since launching its treasury strategy on June 30, 2025, though last week's 7,430-token purchase was one of its smallest weekly buys as it redirected capital to share repurchases.
The reduced pace of ETH acquisition reflects a deliberate capital allocation shift. Bitmine spent roughly $86 million buying back 5.5 million of its own shares at an average price of $15.62, funded under a previously authorized $4 billion repurchase program. BMNR shares traded at $15.69 on July 20, down 60 percent over the past 12 months, according to Fundstrat data.
Bitmine's staking operations have become a significant revenue driver. The company's MAVAN platform, launched earlier in 2026, now handles staking for 4.92 million ETH worth $9.2 billion. At full deployment, Bitmine projects annualized staking rewards of $290 million. The platform is expected to expand beyond Bitmine's own treasury to serve institutional investors and custodians seeking staking infrastructure.
The company was added to the Russell 1000 Large-cap index on June 26, 2026, and ranks as the 187th most actively traded US stock by average daily dollar volume at $579 million, behind Airbnb and ahead of Fastenal among 5,704 US-listed stocks, per Fundstrat.
Bitmine remains backed by a group of institutional investors including ARK's Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, and personal investor Tom Lee.
This article is for informational purposes only and does not constitute investment advice.
