Bitmine Immersion Technologies (NYSE: BMNR) has moved closer to its goal of owning 5% of Ethereum’s total supply after reporting crypto holdings, cash, marketable securities, and strategic investments worth $11.5 billion.
In its latest weekly update, the company said it holds 5,777,468 ETH, representing 4.8% of Ethereum’s 120.7 million total supply, placing it 96% of the way toward its “Alchemy of 5%” strategy launched in June 2025.
Bitmine’s balance sheet also includes 207 Bitcoin, $385 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $58 million investment in Eightco Holdings (NASDAQ: ORBS), which it says offers indirect exposure to OpenAI.
The milestone further cements the company’s position as the world’s largest corporate Ethereum treasury, adopting an ETH-focused version of the Bitcoin treasury strategy popularized by Strategy Inc.
Source: PR Newswire
Also Read: Bitmine Adds 27,801 ETH as Robinhood Chain Tops $1B Volume
Bitmine Staking Portfolio Reaches 4.9M ETH
Beyond accumulating Ethereum, Bitmine is expanding its staking operations to generate recurring income.
At the time of July 19, the total staked ETH by the company was 4,917,189, equivalent to $9.2 billion at an ETH price of $1,879. The staked amount of ETH accounted for 85% of the company’s total amount of ETH.
The expected annualized staking income through the institutional staking program called MAVAN is $247 million. The full staking of Ethereum on MAVAN and other validators would result in a staking income of $290 million.
Buybacks Reinforce Bitmine’s Growth Strategy
According to Chairman Tom Lee, Bitmine bought another 7,430 ETH this week, alongside repurchasing 5.5 million common shares worth $15.6156 each on average, as part of its ongoing $4 billion share repurchase process.
He stated that the conservative approach in acquiring ETH is due to the share repurchase process but pointed out that the firm has acquired Ethereum weekly since it started its treasury strategy.
The company gained more prominence within the public markets after being recognized as an entry into the Russell 1000 Large-Cap Index on June 26, 2026, and their Series A Preferred Stock (BMNP) now trades on the NYSE.
Bitmine is backed by an array of well-known names, such as Cathie Wood at ARK, Founders Fund, Bill Miller III, Pantera, Kraken, Digital Currency Group, Galaxy Digital, MOZAYYX, and Lee.
What Happens Next?
Investors will be watching out to see if Bitmine is able to achieve the iconic target of 5% Ethereum ownership, which would only add on to the iconic nature of the company as a publicly listed crypto treasury player.
The markets will also be focusing on MAVAN moving toward a full-fledged institutional staking platform and the pace of further purchases of ETH, alongside a $4 billion worth of a share buyback program.
Also Read: BitMine Earns $45.7M From Ethereum Staking as Revenue Jumps Over 22X
