Bitmine Immersion Technologies, the world's largest corporate holder of Ethereum, has added another 10,399 ETH to its balance sheet, bringing its total holdings to 5,797,813 ETH – just shy of the 5.8 million milestone and representing 4.8% of the cryptocurrency's circulating supply. The latest purchase, disclosed on Monday, comes as the company continues its unbroken weekly accumulation streak since adopting an Ethereum treasury strategy on June 30, 2025.
At an ETH price of around $1,880, the Ethereum stash is valued at approximately $10.9 billion, while total crypto, cash, and other investments amount to roughly $11.3 billion. Bitmine (BMNR) has narrowed the gap with Strategy, the largest corporate crypto treasury overall, which holds $57 billion in bitcoin but has recently paused purchases and executed its third BTC sale of the year.
Chairman Tom Lee highlighted ether's market performance, noting that ETH outperformed the Nasdaq 100 by 2,500 basis points in July – the biggest monthly outperformance since July 2025. “We believe it is reflective of the strengthening fundamentals of crypto,” Lee said. He also pointed to the company's share buyback activity, with 4.5 million common shares repurchased last week and 16.1 million since July 1 under a $4 billion program.
Beyond stacking ETH, Bitmine is heavily engaged in staking. Through its institutional-grade platform MAVAN and staking partners, 4,917,189 ETH (85% of the treasury) is currently staked, projecting approximately $291 million in annual staking rewards and $247 million in annualized staking revenue. The company also disclosed minor holdings of 209 Bitcoin, a $180 million stake in Beast Industries, and a $61 million stake in Eightco Holdings.
