Bitmine Reaches 5.8M ETH Tokens, Total Holdings Top $11B

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.8 million tokens, representing 4.8% of the total ETH coin supply of 120.7 million.

The company's total crypto and cash holdings now total $11.3 billion, including $9.2 billion in staked ETH at a price of $1,880 per token. Bitmine has also repurchased 4.5 million common shares in the past week under its $4 billion share repurchase program.

According to Thomas 'Tom' Lee, Chairman of Bitmine, the company's Ethereum holdings have outperformed the Nasdaq 100 by 2,500 basis points in July, marking the largest outperformance since July 2025. This is seen as a sign of strengthening fundamentals in the crypto market.