Bitmine Immersion Technologies Reports $11.4 Billion in Crypto Holdings as Ethereum Treasury Reaches 5.82 Million Tokens
The company now owns 4.8% of Ethereum's total supply while accelerating share buybacks and expanding its institutional staking platform.
Ethereum Treasury Approaches 5% Milestone
Bitmine Immersion Technologies, Inc. (NYSE: BMNR) disclosed total crypto and cash holdings of $11.4 billion as of August 16, 2026, anchored by 5.82 million Ethereum tokens valued at $1,893 per ETH (8-K filing, 2026-08-17). The company's ETH position now represents 4.8% of the total coin supply of 120.7 million tokens, placing it "96% of the way to the 'Alchemy of 5%' in just 14 months," according to the filing.
The Norwalk, Connecticut-based firm has purchased ETH every week since launching its Ethereum treasury strategy on June 30, 2025, acquiring 9,926 ETH in the most recent week alone (8-K filing, 2026-08-17). Bitmine describes itself as the world's largest Ethereum treasury and the second-largest global digital asset treasury behind Strategy Inc., which holds approximately 840,447 Bitcoin valued at $58 billion.
Staking Operations Generate Projected $250 Million Revenue
Bitmine has staked 5.07 million ETH, representing $9.6 billion at current prices and 87% of its total Ethereum holdings (8-K filing, 2026-08-17). The company's staking operations generated a 7-day annualized yield of 2.61%, translating to projected annualized staking revenues of $250 million. At full scale, when all ETH is staked through the company's MAVAN platform and staking partners, projected annualized rewards would reach $287 million.
MAVAN, or the Made in America Validator Network, was developed as an institutional-grade staking platform initially supporting Bitmine's own treasury. The company stated that MAVAN "intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure" (8-K filing, 2026-08-17).
Share Repurchase Program Accelerates
Bitmine repurchased 1.7 million shares of common stock in the past week, bringing total buybacks to over 20.8 million shares since July 2026 under its $4 billion share repurchase program (8-K filing, 2026-08-17). Chairman Thomas Tom Lee characterized this as "the largest ever executed by any Ethereum, Bitcoin or crypto DAT (Digital Asset Treasury)," stating that management "continue[s] to view Bitmine's common shares as undervalued."
MarginX data shows recent insider activity including options exercises by executives Olivia Howe, Jason A. Edgeworth, and Robert J. Sechan II, each exercising 4,749 shares.
Portfolio Composition and Market Performance
Beyond Ethereum, Bitmine's holdings include 210 Bitcoin, a $180 million stake in Beast Industries, $73 million in Eightco Holdings (NASDAQ: ORBS)—which the company described as "one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI"—and $78 million in cash and marketable securities (8-K filing, 2026-08-17).
Chairman Lee noted that "in July, ETH outperformed Nasdaq 100 by 2,500 basis points, the largest since July 2025, reflective of the strengthening fundamentals of crypto" (8-K filing, 2026-08-17). He attributed rising ETH/BTC ratios to "materialization of tokenization and agentic-AI applications" and expressed expectations that "easing financial conditions" would benefit crypto assets.
The company was added to the Russell 1000 Large-cap index on June 26, 2026, and its Series A Preferred Stock trades on the NYSE under the symbol BMNP (8-K filing, 2026-08-17). Bitmine is scheduled to report fiscal year 2026 results on November 20, 2026, according to MarginX data.
This article was generated by MarginX from the 8-K filing on 2026-08-17. It is not investment advice.