BitMine Nears 5% of ETH Supply Amid Growing Institutional Demand

BitMine's Ethereum treasury strategy continues to gain traction as the company approaches its goal of holding 5% of the total supply. As of August 2, BitMine held approximately 4.8% of the circulating supply, with 5.7978 million ETH in its treasury.

The firm has been aggressively buying and staking Ethereum, adding another 10,399 coins to its holdings last week alone. This continued buying spree started on June 30, 2025, when BitMine launched its ETH Treasury strategy.

BitMine's total cryptocurrency assets now stand at around $11.3 billion, with the company also repurchasing shares of common stock. Chairman Tom Lee noted that Ethereum outperformed the Nasdaq 100 by 2,500 basis points in July, a sign of strengthening crypto fundamentals according to him.

In addition to its treasury strategy, BitMine is also expanding its staking operations, with an estimated annual yield of $250 million from its staked position. The company's goal is to own 5% of Ethereum's total supply while reinforcing its long-term staking and treasury strategy.