Bitmine Immersion Technologies has expanded its Ethereum treasury to 5,847,611 ETH, or about 4.8% of Ethereum’s 120.7 million ETH supply, moving the company close to its stated “Alchemy of 5%” target.

At $2,440 per ETH, the company’s Ethereum holdings are worth roughly $14.3 billion. Bitmine said its combined crypto, cash, marketable securities, and “moonshots” holdings total $14.9 billion.

Source: PR Newswire

Bitmine adds 32,447 ETH as price rises 30%

The update comes as Ethereum extends a strong rebound. ETH gained 30% over the past week, marking its largest weekly increase since May 2025, according to Chairman Thomas “Tom” Lee.

Lee said similar gains were seen in July 2021 and May 2025, after which ETH eventually rose 167% and 170%, respectively. He noted, however, that those historical moves do not guarantee a similar outcome this time.

Bitmine said it bought another 32,447 ETH during the week and has been purchasing ETH every week since it began its treasury strategy on June 30, 2025. Based on the company’s target, it still needs about 190,000 more ETH to reach the 5% threshold.

Lee pointed to several possible catalysts for Ethereum, including improved financial conditions, Wall Street tokenization, and agentic artificial intelligence. He said those developments could help Ethereum outperform Bitcoin as blockchain-based finance becomes more widespread.

Also Read: Ethereum Price Targets $2,000 With BitMine Purchasing $24.3M in ETH

Staking remains a central part of Bitmine’s strategy

Staking is another major component of Bitmine’s approach. The company said 5,067,309 ETH were staked, valued at about $12.4 billion, representing 87% of its Ethereum holdings.

Bitmine’s MAVAN institutional staking platform generated a 2.67% yield for the company over seven days and was expected to produce about $330 million in annual staking income.

The company said that if all ETH held by MAVAN and its partners were staked, the estimated annual reward would be approximately $381 million. Bitmine also plans to expand MAVAN’s services to its own treasury operations as well as to institutional investors and custodians.

Bitmine currently holds almost 97% of the ETH it would need to complete its 5% target, leaving it close to the stated milestone. That scale matters because the company is not only accumulating ETH, but also tying a large portion of it to staking, which can add yield to a treasury strategy while Ethereum’s network activity and institutional use cases continue to draw attention.

What may come next

Another key question is whether ETH can hold onto its recent 30% gain. Bitmine said that if institutional adoption, tokenization, and AI-related use cases continue to strengthen within blockchain markets, Ethereum could enter a broader expansion phase.

For Bitmine, reaching the 5% milestone would mark a significant achievement. For Ethereum, accumulation by a publicly traded treasury could further underscore ETH’s role as a corporate reserve asset and as a digital asset capable of generating yield.

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