Bitmine Immersion Technologies (NYSE: BMNR) expands its Ethereum position to nearly 4.8% of supply, with combined holdings valued at $11.3 billion.Bitmine Immersion Technologies, a publicly traded firm focused on building a substantial digital asset treasury centered on Ethereum, has reported further growth in its ETH reserves.
As of August 2, 2026, the company held 5,797,813 ETH tokens. At a reference price of $1,880 per ETH drawn from Coinbase data, this stake alone was valued at roughly $10.9 billion.
When combined with other assets, the firm’s overall portfolio of cryptocurrencies, cash, marketable securities, and strategic investments reached $11.3 billion.
These Ethereum holdings equate to approximately 4.8% of the network’s total supply, estimated at around 120.7 million ETH.
The company has framed its long-term objective as reaching 5% ownership—a milestone it refers to as the “Alchemy of 5%.”
With the latest figures, Bitmine indicates it has progressed about 96% of the way toward that target after roughly 13 months of dedicated accumulation that began in mid-2025.In the week leading up to the disclosure, Bitmine acquired an additional 10,399 ETH.
The firm has maintained a consistent pattern of weekly purchases since launching its Ethereum treasury strategy.
A large majority of its tokens—4,917,189 ETH, or about 85% of the total—are currently staked.
This staked portion was valued at approximately $9.2 billion and is projected to generate around $247 million in annualized staking revenue based on recent yields.
Beyond Ethereum, the company’s balance sheet includes 209 Bitcoin, $173 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $61 million position in Eightco Holdings.
These elements contribute to the overall $11.3 billion figure.
Alongside asset accumulation, Bitmine has continued share repurchases.
During the most recent week it bought back 4.5 million common shares.
Since the start of July 2026, total repurchases under its previously authorized $4 billion program have reached 16.1 million shares.
Company leadership has described this activity as among the most substantial buyback efforts undertaken by any crypto-focused digital asset treasury firm.
Chairman Tom Lee has highlighted Ethereum’s relative performance, noting that in July the token outperformed the Nasdaq 100 by a notable margin.
The firm views ongoing institutional interest in tokenization on the Ethereum network, along with broader adoption trends, as supportive of its accumulation approach. Bitmine positions itself as a significant corporate holder of ETH and continues to emphasize staking operations through its infrastructure as a source of yield on the treasury.
The update underscores the scale of corporate interest in holding and staking Ethereum as part of long-term treasury strategies. With holdings approaching the 5% threshold of total supply and substantial capital allocated to both tokens and related investments, Bitmine remains focused on expanding its position while returning capital to shareholders through buybacks.
