Bitmine Reaches $11.3 Billion in Ethereum Holdings, Nears 5% Target

Bitmine Immersion Technologies (BMNR) recently announced that its Ethereum holdings have reached 5.8 million tokens, valued at $11.3 billion. The company's total cash and marketable securities are also worth $173 million.

As of August 2, 2026, Bitmine's ETH holdings comprise 4.8% of the total ETH supply, which is 120.7 million tokens. This milestone was achieved in just 13 months, with the company now being 96% of the way to its goal of holding 5% of the ETH coin supply.

Bitmine's Chairman, Thomas 'Tom' Lee, attributed the recent outperformance of ETH to strengthening fundamentals in the crypto market. In July, ETH outperformed the Nasdaq 100 by 2,500 basis points, a significant margin since July 2025.

In an effort to further support its goal, Bitmine repurchased 4.5 million common shares in the past week under its $4 billion share repurchase program. Since July 1, 2026, the company has repurchased over 16 million shares of common stock.