Bitmine Immersion Technologies has increased its Ethereum treasury to 5.96 million ETH, moving closer to its goal of controlling 5% of Ethereum’s total supply.
Based on 122 million ETH outstanding, the holdings represent about 4.9% of supply, putting the company approximately 98% of the way toward its “Alchemy of 5%” target.
The company purchased another 27,180 ETH during the past week, continuing a buying strategy that Bitmine says has added Ethereum every week since June 30, 2025.
At $2,513 per ETH, the company’s holdings are worth nearly $15 billion. Its total portfolio reaches $15.8 billion when other crypto, cash, and investments are included.
The company reported $549 million in cash and marketable securities, 212 BTC, a $180 million Beast Industries stake, and approximately $98 million in Eightco Holdings.
The company characterizes the Eightco position as indirect exposure to OpenAI. Together with its Ethereum holdings and other assets, these investments give the firm a broader digital-asset treasury strategy.
Source: PR Newswire
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The process of staking is yet another key element in the strategy of the firm. According to the report provided by the company, it was able to stake 5,067,309 ETH via MAVAN, which accounted for about 85% of all its Ethereum assets. This staked position is worth approximately $12.7 billion.
The MAVAN platform is an institutional staking solution developed by Bitmine itself for its own Ethereum assets but later extended to other institutional stakeholders.
It was built on an infrastructure that supports institutional staking, which includes continuous validator operation and security measures. This enables Bitmine to engage in both staking gains and market appreciation of Ethereum.
With the estimated staking yield for seven days standing at 2.62%, Bitmine has projected a yearly staking income of around $334 million based on the current holdings.
According to Bitmine, achieving its 5% Ethereum holdings objective will enable it to earn up to $392 million per year in staking income.
Ethereum Strengthens Relative to Bitcoin
The Bitmine report also mentioned the recent market performance of Ethereum. The report claimed that ETH is the top performer among all macro assets during the third quarter, beating the S&P 500 index by 5,866 basis points.
Bitmine considers that this superior performance can help bring more investments from institutions into the crypto space.
According to Tom Lee, chairman of Bitmine, the ETH/BTC ratio has hit an all-time high since January 30th, creating a new uptrend.
Mr. Lee attributed the outperformance of the Ethereum token due to the likelihood of being used as infrastructure for the Wall Street tokenization and agents’ artificial intelligence applications.
Institutional Adoption Could Drive Next Phase
Bitmine believes that there will be some changes in Ethereum and the entire crypto market that will have an impact throughout the year 2026. Some of these changes include the possibility of voting for the CLARITY Act, the increasing involvement of Korean crypto, demand from institutions, and growth in tokenization.
In addition, the technical analyst Tom DeMark forecasts a sudden rise in the price of Ethereum over the next few weeks.
This forecast was based on the consolidation pattern that the cryptocurrency experienced during the month of August and further technical signals received by him. It should be mentioned that this is only an estimate from the market side.
What Happens Next?
The recent update by Bitmine proves how companies’ Ethereum strategy goes beyond just accumulating the crypto asset. Bitmine is using a huge amount of ETH in their treasury, staking and institutional approach. The question here is whether Bitmine will be able to accumulate more Ethereum and get closer to their 5% mark.
For Ethereum, the broader question is whether tokenization, stablecoins, and AI applications can translate institutional interest into sustained network activity.
Bitmine’s continued purchases and staking expansion could reinforce the corporate-treasury trend, while Ethereum’s future performance will ultimately depend on adoption, capital flows, network demand, and the wider crypto market.
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