Bitmine Immersion Technologies, Inc. (NYSE: BMNR) said its Ethereum holdings have reached 5.79 million tokens and that its combined crypto, cash, marketable securities and “moonshots” holdings total $11.8 billion.

The Norwalk, Connecticut-based company, which describes itself as a Bitcoin and Ethereum network company focused on accumulating crypto for long-term investment, said it owns 4.8% of the total ETH supply of 120.7 million tokens. Bitmine said it is 96% of the way toward its “Alchemy of 5%” goal, 13 months after launching the strategy.

As of July 26, 2026, at 7:00 p.m. ET, Bitmine said its holdings consisted of 5,787,414 ETH valued at $1,948 per ETH, based on Coinbase (NASDAQ: COIN) pricing; 208 Bitcoin (BTC); a $180 million stake in Beast Industries; a $61 million stake in Eightco Holdings (NASDAQ: ORBS), which it classified as a “moonshot”; and $268 million in total cash and marketable securities. The company said Eightco is now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI.

Bitmine’s update adds to the growing list of public-company digital asset treasury strategies, in which operating companies hold cryptocurrencies or crypto-linked assets on their balance sheets rather than limiting exposure to mining or other operating revenue. For Bitmine, the strategy is centered on Ethereum rather than Bitcoin, and its reported 4.8% share of ETH supply makes the size of the position central to how investors assess both the company and the broader category of public ETH treasury vehicles.

Bitmine also said it repurchased 6.1 million shares of common stock during the past week under its previously announced $4 billion share repurchase program, up from 5.5 million shares purchased the week before. Since July 1, 2026, the company has repurchased 11.6 million common shares under the authorization.

“Bitmine repurchased 6.1 million shares of common stock in the past week, an increase from the 5.5 million purchased the week prior. We increased our equity buyback as we view the rising ETH/BTC ratio, despite the falling odds of passage of the Clarity Act in 2026, as a sign crypto prices are strengthening. In fact, this ratio is now at a 3-month high at 0.3000, which we believe bodes well for future strengthening of ETH prices,” Thomas “Tom” Lee, chairman of Bitmine, said in the announcement.

“ETH prices are now reaching a 10-week high and as many technical strategists have highlighted, we believe the next key levels to clear are $2,000 and $2,500 for ETH. Our advisor, Tom DeMark of DeMark Analytics, sees these levels as near-term targets if the comparison of ETH to S&P 500 post-Oct 1987 continues to hold,” Lee said.

“With over 11 million shares of common stock repurchased, Bitmine has executed the largest ever common stock buyback for any ETH or Bitcoin Digital Asset Treasury,” Lee added.

Bitmine said it acquired 9,946 ETH over the past week and has bought ETH every week since beginning its ETH Treasury Strategy on June 30, 2025. On July 16, 2026, the company released its latest Chairman’s Message for July 2026, titled “ETH is the cure for the Uncanny Valley of Wealth.” The message is available at

The company said it launched MAVAN, the Made in America VAlidator Network, earlier in 2026 as an institutional-grade Ethereum staking platform. MAVAN was initially developed to support Bitmine’s Ethereum treasury, but the company said the platform intends to expand to institutional investors, custodians and ecosystem partners seeking staking infrastructure. A portion of Bitmine’s ETH is already staked on MAVAN.

Ethereum staking is the process of committing ETH to help operate and secure the proof-of-stake network, with validators earning protocol rewards while also facing operational and market risks. That makes Bitmine’s staking scale a separate focus from its headline ETH balance, because staking revenue, validator performance and custody or infrastructure controls can affect how a treasury strategy is executed.

As of July 26, 2026, Bitmine said it had 4,917,189 ETH staked, representing $9.6 billion at $1,948 per ETH. The staked amount equals about 85% of the 5.79 million ETH held by the company.

“Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $299 million on an annualized basis (using 2.65% 7-day BMNR yield),” Lee said.

“Annualized staking revenues are now projected at $254 million. And this 4.9 million ETH is 85% of the 5.79 million ETH held by Bitmine. Bitmine’s own staking operations generated a 7-day yield of 2.65% (annualized),” Lee continued.

Bitmine said its crypto holdings rank as the No. 1 Ethereum treasury and the No. 2 global treasury behind Strategy Inc. (NASDAQ: MSTR), which reportedly owns 843,775 BTC valued at approximately $59 billion. The company said it remains the largest ETH treasury in the world.

Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026. Its Series A Preferred Stock trades on the NYSE under the symbol BMNP.

The company said it remains supported by institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital, as well as personal investor Thomas “Tom” Lee, in support of Bitmine’s goal of acquiring 5% of ETH.

Bitmine said it is one of the most widely traded stocks in the United States. Citing Fundstrat data, the company said its shares had average daily dollar volume of $597 million on a five-day average as of July 24, 2026, ranking No. 171 among 5,704 U.S.-listed stocks. The ranking placed Bitmine behind Hewlett Packard Enterprise at No. 170 and ahead of HCA Healthcare at No. 172, based on statista.com and Fundstrat research.

Bitmine management said it believes the GENIUS Act and the Securities and Exchange Commission’s Project Crypto are as transformational to financial services in 2025 as the U.S. action on August 15, 1971, that ended Bretton Woods and the U.S. dollar’s link to the gold standard 54 years earlier. The company said the 1971 event catalyzed the modernization of Wall Street and helped create the financial and payment rails of today, which it said proved to be better investments than gold.

The company’s comments place regulatory developments among the key items to monitor for digital asset treasury companies, particularly where public-company disclosures, token custody, staking operations and market structure rules intersect. Bitmine also identified pending legislation and SEC initiatives as risk factors in its forward-looking statement language.

The company said its Fiscal Full Year 2025 Earnings presentation and corporate presentation are available at It also directed readers to for updates.

Bitmine (NYSE: BMNR) is a Bitcoin miner with operations in the United States. The company said it is deploying excess capital to become the leading Ethereum treasury company in the world, implementing a digital asset strategy for institutional investors and public market participants. Guided by its “alchemy of 5%” philosophy, Bitmine said it is committed to ETH as its primary treasury reserve asset and is using native protocol-level activities, including staking and decentralized finance mechanisms. The company launched MAVAN, a dedicated staking infrastructure for Bitmine assets, in 2026.

For additional details, Bitmine directed readers to its X accounts: https://x.com/bitmnr and https://x.com/fundstrat.

Forward-looking statements

The announcement said it contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Bitmine said statements that are not purely historical involve risks and uncertainties and can be identified by terms such as “expects,” “projects,” “projected,” “intends,” “believes,” “anticipates,” “estimates” and similar expressions.

The company said the document specifically contains forward-looking statements regarding: the company’s goals for ETH acquisition, including the “Alchemy of 5%” initiative and the statement that Bitmine is 96% of the way toward that goal; its digital asset accumulation strategy and staking operations, including 4,917,189 staked ETH representing $9.6 billion, projected annualized ETH staking rewards of approximately $299 million when Bitmine’s ETH is fully staked by MAVAN and its staking partners, and current projected annualized staking revenues of approximately $254 million; MAVAN’s intended expansion to institutional investors, custodians and ecosystem partners seeking best-in-class staking infrastructure; Bitmine’s continued commitment to acquire ETH weekly under its ETH Treasury Strategy; management’s belief that the GENIUS Act and SEC Project Crypto are as transformational to financial services as the U.S. action on August 15, 1971, ending Bretton Woods and the U.S. dollar gold standard; expectations regarding the $4 billion share repurchase program and its accretive value to shareholders, including statements that Bitmine has executed the largest ever common stock buyback for any ETH or Bitcoin Digital Asset Treasury; expected ETH price levels and technical targets, including expectations that the next key levels to clear are $2,000 and $2,500 for ETH; statements regarding Bitmine’s investment in Eightco Holdings as providing indirect exposure to OpenAI; beliefs regarding the ETH/BTC ratio being at a three-month high and expectations that this bodes well for future strengthening of ETH prices; and the future growth and advancement of Bitmine’s Ethereum treasury strategy.

Bitmine said factors to consider in evaluating those statements include the company’s ability to keep pace with new technology and changing market needs; its ability to finance its current business, Ethereum treasury operations, share repurchase activities and proposed future business; the competitive environment of its business; market conditions affecting the trading price of its common stock and Series A Preferred Stock; regulatory developments affecting digital assets, including the ultimate enactment and implementation of the GENIUS Act and other pending legislation and SEC initiatives; the volatility and unpredictability of digital asset prices; the performance, reliability and security of staking operations; risks related to AI systems and their impact on cryptocurrency markets; and the future value of Bitcoin and Ethereum.

The company said actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. It said forward-looking statements are subject to numerous conditions, many outside Bitmine’s control, including those described in the Risk Factors section of Bitmine’s Form 10-K filed with the SEC on November 21, 2025, and in other SEC filings, as amended or updated from time to time. Copies of Bitmine’s SEC filings are available at www.sec.gov. Bitmine said it undertakes no obligation to update the statements for revisions or changes after the date of the release, except as required by law.