BitMine Immersion Technologies (NYSE: BMNR), a publicly traded firm focused on accumulating cryptocurrency assets for long-term investment, has disclosed that its Ethereum (ETH) position has grown to approximately 5.79 million tokens. This milestone follows the company’s purchase of nearly 9,950 ETH over the most recent week, a transaction valued at roughly $19.4 million based on prevailing market prices near $1,950 per token.
The update, released on July 27, 2026, shows BitMine now controlling about 4.8 percent of Ethereum’s circulating supply of roughly 120.7 million tokens.
Company officials described the firm as being 96 percent of the way toward its stated “Alchemy of 5 percent” objective—securing a full 5 percent of the ETH supply—achieved in just 13 months since launching its dedicated ETH treasury strategy in late June 2025.
Combined holdings of cryptocurrency, cash, marketable securities, and strategic investments now stand at $11.8 billion.
Beyond the core Ethereum position, the portfolio includes 208 Bitcoin, approximately $268 million in cash and liquid securities, a $180 million stake in Beast Industries, and a $61 million investment in Eightco Holdings.
The latter is highlighted by the company as one of the few publicly listed vehicles offering indirect exposure to OpenAI.
A substantial portion of the Ethereum holdings—4.92 million tokens, or about 85 percent of the total—is actively staked.
Valued at roughly $9.6 billion at the reference price of $1,948, these staked assets are projected to generate annualized rewards of approximately $254 million.
The company operates its Made in America Validator Network (MAVAN), positioned as an institutional-grade staking solution, and reports a recent seven-day annualized yield of 2.65 percent from its own operations.
Full deployment through MAVAN and partners could potentially lift annualized staking income toward $299 million.
In parallel with the ETH accumulation, BitMine accelerated its share repurchase activity.
The firm bought back 6.1 million shares of common stock during the week, bringing total repurchases since the beginning of July to 11.6 million shares under a previously authorized $4 billion program.
Chairman Tom Lee noted that the increased buybacks reflect confidence in a strengthening ETH-to-Bitcoin ratio, which recently reached a three-month high near 0.30, even amid uncertainty around certain regulatory developments.
Lee also pointed to Ethereum prices approaching a 10-week high and suggested potential near-term resistance levels at $2,000 and $2,500.
BitMine has maintained a consistent weekly purchasing cadence for ETH since the strategy’s inception more than a year earlier.
The latest acquisition continues a pattern of steady accumulation despite fluctuating market conditions.
The company was added to the Russell 1000 Large-Cap Index in late June 2026, a development expected to broaden institutional interest.
Its Series A preferred stock trades under the ticker BMNP.Supported by a roster of institutional backers that includes ARK Invest, Founders Fund, Pantera, Galaxy Digital, and others, BitMine remains one of the largest known corporate holders of Ethereum.
The firm’s focus on treasury growth and operational staking infrastructure underscores its long-term conviction in the asset and the broader Ethereum ecosystem. As the company approaches its 5 percent supply target, market observers will continue monitoring both the pace of further acquisitions and the performance of its staking operations.