Bitmine Immersion Technologies (BMNR) has expanded its Ethereum treasury with a weekly purchase of 53,501 ETH, worth approximately $131.3 million at current prices. The acquisition brings total holdings to 5,901,112 ETH, valued at roughly $14.5 billion and equal to about 4.9% of Ethereum's 120.7 million circulating supply.
The company has now purchased ETH for 65 consecutive weeks since launching its Ethereum treasury strategy on June 30, 2025. Bitmine is roughly 134,000 tokens short of its self-described ‘Alchemy of 5%’ goal of owning 5% of total ETH supply. The latest buy follows a 32,447 ETH purchase the previous week, meaning Bitmine acquired almost 86,000 ETH over two weeks.
Of the total stash, 5,067,309 ETH — about 86% — is actively staked through the company's MAVAN platform, worth around $12.7 billion. Bitmine reports a seven-day annualized staking yield of 2.63%, projecting roughly $335 million in annualized staking revenue. Including 211 BTC, stakes in Beast Industries and Eightco Holdings, and $541 million in cash and marketable securities, total holdings reached $15.6 billion as of August 30, 2026.
Chairman Tom Lee said crypto's strong third-quarter performance could attract institutional money, noting Ether gained 55% in August and Bitcoin 34%. He also pointed to a potential U.S. CLARITY Act vote in mid-September and renewed demand from Korean investors as near-term catalysts. BMNR stock traded down 7.14% on the day, while ETH/USD was off 1.19% at reporting time.
