Bitmine Nears 5% ETH Milestone with Record Crypto Holdings

Bitmine Immersion Technologies has hit another milestone in its quest to accumulate 5% of the total ETH supply. As of August 23, 2026, the company's Ethereum holdings now stand at 5.85 million tokens, accounting for a significant 4.8% of the overall ETH coin supply.

The company's crypto and cash holdings have reached a staggering $14.9 billion, with $308 million in total cash and marketable securities, and other notable investments including a stake in Eightco (NASDAQ: ORBS) valued at $89 million.

Bitmine has been on a buying spree since June 30, 2025, purchasing ETH every week as part of its ETH Treasury Strategy. The company's Chairman, Thomas 'Tom' Lee, stated that the recent 30% weekly gain in ETH is a positive sign for crypto, with past precedent suggesting subsequent gains of +170% and +167%, respectively.

Bitmine has also been actively staking its Ethereum holdings on its institutional-grade staking platform, MAVAN (Made in America VAlidator Network). The company's total staked ETH stands at 5.067 million tokens, generating a projected annualized staking reward of $381 million at scale.

Bitmine's progress towards its goal of acquiring 5% of the total ETH supply has been remarkable, with the company now just 3% shy of this target after only 14 months.