Bitmine’s Ethereum Strategy Gains Momentum With 5.82 Million ETH Holdings

By Sajjal Ali | Edited By Ammar Raza,August 17, 2026, 7:00 PM

Bitmine Immersion Technologies (NYSE: BMNR) has expanded its Ethereum treasury to 5.82 million ETH, representing approximately 4.8% of Ethereum’s total supply of 120.7 million ETH. 

The company is now about 96% of the way toward its ambitious “Alchemy of 5%” goal, highlighting the growing role of corporate treasuries in the Ethereum ecosystem.

Bitmine reported total crypto, cash, marketable securities, and “moonshot” holdings worth $11.4 billion. Its portfolio included 5,815,164 ETH, 210 Bitcoin, $78 million in cash and marketable securities, a $180 million stake in Beast Industries, and $73 million invested in Eightco Holdings (NASDAQ: ORBS). 

The company also purchased another 9,926 ETH over the past week, maintaining weekly acquisitions since launching its Ethereum Treasury Strategy in June 2025.

Source: PR Newswire

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Bitmine Stakes 87% of ETH Holdings for Yield

Bitmine is not simply accumulating ETH. The company said 5,067,309 ETH, or roughly 87% of its Ethereum holdings, was already staked as of August 16. At an ETH price of $1,893, the staked position was valued at approximately $9.6 billion.

The staking operation is supported by MAVAN, Bitmine’s institutional-grade staking and validation platform. The company reported a seven-day staking yield of 2.61% and said annualized staking revenue is now projected at approximately $250 million. 

If its entire ETH holdings are eventually staked through MAVAN and its partners, Bitmine estimates annualized rewards could reach $287 million.

This gives the company another potential source of revenue while allowing it to maintain exposure to ETH’s long-term price performance.

ETH/BTC Ratio Signals Potential Ethereum Rally Ahead

Bitmine also emphasized the relative strength of Ethereum. According to Bitmine, the cryptocurrency was outperforming the Nasdaq 100 by 2,500 basis points in July, which is the best performance since July 2025.

According to Thomas Lee, the chairman, the ETH/BTC ratio is 0.02994, and he stated that this ratio had broken out of its long-term downtrend.

 According to Lee, Ethereum may be positively impacted by blockchain usage for tokenizing financial assets and artificial intelligence.

Bitmine Boosts Buyback as Institutional Backing Grows

While buying ETH, Bitmine is rapidly buying back its shares. The company purchased 1.7 million common shares in the recent week, thereby raising the total number of shares repurchased from 20.8 million since July under its previously approved program of up to $4 billion.

Bitmine was also listed in the Russell 1000 index for big stocks on June 26. The Series A Preferred Stock of Bitmine is listed on the NYSE as BMNP. 

It still keeps on getting support from many institutional investors like Cathie Wood of ARK, Founders Fund, Pantera, Kraken, and Galaxy Digital, among many others.

What Happens Next?

The next step for the firm is achieving 5% of Ethereum’s total supply, which needs to be accumulated while the circulating supply of Ethereum continues to change. The following factors that investors will be focusing on are staking, MAVAN growth, share buyback, and performance vs. Bitcoin and other markets.

Despite the potential dangers of the strategy, which include the volatility of Ethereum, regulation, risks related to staking, and the centralization of corporate assets in just one digital asset, the expansion of the company’s treasury indicates how institutional investors are looking at Ethereum not just as a cryptocurrency but also as an earning financial asset.

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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.