BitMine Amasses Over 5.8 Million ETH as Treasury Strategy Continues

BitMine Immersion Technologies has significantly increased its Ethereum holdings after purchasing 10,399 ETH in the latest week. The company now holds a staggering 5,797,813 ETH, representing approximately 4.8% of Ethereum's circulating supply.

This move is part of BitMine's disciplined treasury strategy, which involves weekly Ethereum purchases as a core component of its corporate balance sheet. Launched on June 30, 2025, the approach mirrors MicroStrategy's bet on Bitcoin and aims to demonstrate whether a similar thesis works for ETH.

BitMine isn't just sitting on its Ethereum; it has 4,917,189 ETH staked through a partner called MAVAN, generating annualized yields projected at roughly $291 million. This means the treasury strategy isn't purely a price appreciation bet but also a cash-flow play.

The company's total asset valuation now sits at $11.3 billion, encompassing more than just Ethereum. It also holds 209 BTC and maintains significant equity stakes in companies including Beast Industries and Eightco Holdings, alongside cash reserves.