Bitmine Buys Another 10K ETH, Pushes Total Holdings Past $11 Billion

Bitmine Immersion Technologies (NYSE:BMNR) shares rose 4% following the company's announcement that it added 9,926 more Ethereum (ETH) to its holdings last week. This purchase brings Bitmine's total ETH holdings to 5.82 million, accounting for approximately 4.8% of the entire circulating supply of 120.7 million coins.

The company has been buying ETH every week since launching its ETH treasury strategy on June 30, 2025, with a goal of owning 5% of the total ETH supply. Bitmine's chairman, Tom Lee, attributed the recent shift in the ETH/BTC ratio to markets pricing in tokenization and agentic AI applications running on Ethereum.

Lee compared this moment to the 1971 Nixon shock that ended the Bretton Woods gold standard, calling it equally transformational for financial infrastructure. The company has also staked 5,067,309 ETH through its MAVAN institutional staking platform, generating an annualized yield of 2.61% and projected staking revenues of $250 million annually.