Drops After Expanding Ethereum Treasury to 5.77 Million ETH 

TLDR

• BMNR drops 3.57% as Bitmine expands Ethereum treasury to 5.77M ETH.

• Bitmine reports $11.3B in crypto assets led by its Ethereum holdings.

• Bitmine stakes 4.9M ETH and projects $242M in annual staking revenue.

• Russell 1000 inclusion strengthens Bitmine’s institutional market profile.

• Bitmine raises Ethereum exposure while BMNR shares extend daily losses.

Bitmine Immersion Technologies (BMNR) shares fell during Monday’s session after the company disclosed updated treasury holdings worth $11.3 billion. BMNR stock closed at $14.44, down 3.57%, as selling pressure strengthened after the opening bell. The company highlighted continued growth in its Ethereum position and broader digital asset strategy.

Bitmine Immersion Technologies, Inc., BMNR

Bitmine expands Ethereum treasury and digital asset holdings

Bitmine reported total crypto, cash, marketable securities, and strategic investments worth $11.3 billion as of July 12, 2026. The company held 5,770,038 ETH valued at $1,820 per token using Coinbase pricing. It owned 206 Bitcoin alongside $482 million in cash and marketable securities.

The portfolio also included a $180 million stake in Beast Industries and a $69 million stake in Eightco Holdings. Together, those strategic holdings formed part of the company’s long-term treasury allocation. Bitmine stated that its Ethereum holdings now represent approximately 4.8% of the circulating ETH supply.

The company also maintained its position as the largest corporate Ethereum treasury worldwide. Management stated that the treasury ranked second globally among corporate crypto holdings behind Strategy’s Bitcoin reserve. The update reinforced Bitmine’s focus on accumulating digital assets for long-term balance sheet growth.

Staking operations expand as institutional initiatives continue

Bitmine reported that 4,917,189 ETH had already entered staking through its MAVAN platform and partner infrastructure. Based on current pricing, those staked assets carry an estimated value of about $9.0 billion. The company projected annualized staking rewards using a reported 2.70% seven-day yield.

Management estimated annualized staking revenue at approximately $242 million based on current staking activity. Nearly 85% of Bitmine’s Ethereum holdings currently generate staking returns. The company launched MAVAN earlier in 2026 to support institutional-grade Ethereum staking services.

Bitmine also increased Ethereum purchases during recent weeks by acquiring another 27,801 ETH. Furthermore, management continued accumulating Ethereum throughout 2026 under its treasury expansion strategy. The company expects additional staking capacity as more holdings transition onto the MAVAN platform.

Russell 1000 inclusion supports broader corporate strategy

Bitmine joined the Russell 1000 Index on June 26 during the annual index reconstitution process. The company stated that index inclusion could expand institutional ownership through passive investment funds and exchange-traded funds. Therefore, the addition marked another milestone in its public market presence.

Earlier, Bitmine completed a public offering of 3.5 million Series A Perpetual Preferred Stock shares. The offering generated approximately $273.8 million in net proceeds after underwriting discounts and expenses. Meanwhile, the preferred shares trade on the NYSE under the ticker BMNP with scheduled weekly dividend payments.

Management also highlighted growing activity across Ethereum-based infrastructure following Robinhood Chain’s July 1 mainnet launch. According to the company, increased Layer 2 transaction volumes strengthen Ethereum’s network utility because settlement occurs on Ethereum. Separately, Bitmine described recent U.S. digital asset policy developments as supportive of broader financial market modernization and continued blockchain adoption.