Bitmine Immersion Technologies Nears 5% Ethereum Supply Target with $10.9B Holdings
Key Takeaways
- •Bitmine Immersion Technologies holds approximately 5.8 million ETH worth $10.9 billion, making it the largest corporate Ethereum treasury globally and second only to MicroStrategy in overall public-company crypto holdings.
- •The company controls roughly 4.8% of Ethereum's circulating supply and needs an additional 237,187 ETH to reach its 5% ownership target.
- •Approximately 85% of Bitmine's ETH holdings are staked, with projected annual staking rewards of around $291 million.
- •Bitmine has received institutional backing from ARK Invest and Founders Fund and has been included in the Russell 1000 Large-Cap Index.
- •The company diversifies beyond Ethereum by holding 209 BTC and approximately $173 million in cash and marketable securities.
Bitmine Immersion Technologies continues its aggressive Ethereum accumulation strategy, now holding 5,797,813 ETH valued at approximately $10.9 billion. This positions the company as the largest corporate Ethereum treasury globally, second only to MicroStrategy (MSTR) in overall cryptocurrency holdings among public companies. While MicroStrategy pioneered the corporate Bitcoin treasury model, Bitmine's approach mirrors that strategy but targets Ethereum, reflecting a divergence in how public companies are positioning themselves across different segments of the digital asset market.
Weekly Purchases Bring 5% Supply Goal Closer
Bitmine has been acquiring Ethereum on a weekly basis, steadily approaching its target of owning 5% of Ethereum's total circulating supply. The firm currently holds approximately 4.8% of the supply and needs an additional 237,187 ETH to reach the 5% milestone. With Ethereum's circulating supply at approximately 120 million ETH, a single corporate entity approaching a 5% share underscores the degree of concentration that large-scale treasury strategies can introduce into a major cryptocurrency's float.
In the most recent weekly purchase, Bitmine acquired 10,399 ETH. The company's strategy is further supported by projected annual staking rewards of approximately $291 million.
Tom Lee's Bitmine Immersion Technologies Bought Another 10,399 $ETH Last Week And Now Holds 5,797,813 ETH ($10.9B) $BMNR Total Holdings: ➤ 5,797,813 Ethereum ($10.9B) ➤ 4,917,189 ETH Staked (~$9.2B), 85% Of Holdings ➤ 209 BTC ➤ $173M Cash & Marketable Securities ➤ $241M… pic.twitter.com/pgAUamj977 — Crypto Patel (@CryptoPatel) August 4, 2026
Institutional Backing and Market Position
Bitmine's strategy has drawn support from prominent investors including ARK Invest and Founders Fund. The company's inclusion in the Russell 1000 Large-Cap Index further reinforces its standing in the broader financial market. Bitmine is also conducting an ongoing share buyback program alongside its Ethereum acquisition efforts.
Of the company's total ETH holdings, 4,917,189 ETH (approximately $9.2 billion) is currently staked, representing 85% of its Ethereum position. Staking is central to Ethereum's Proof-of-Stake consensus mechanism, introduced when the network completed its transition from Proof-of-Work in September 2022. Staked ETH helps secure the network and earns rewards, but is subject to locking periods and withdrawal constraints. The company additionally holds 209 BTC and approximately $173 million in cash and marketable securities.
Ethereum Market Context
Ethereum was trading near $1,871 at the time of reporting. Bitmine's continued accumulation represents one of the largest ongoing corporate crypto treasury operations. The company is associated with Tom Lee, a well-known market analyst and co-founder of Fundstrat Global Advisors.