Bitmine Surges on $11 Billion Ethereum Holdings

Bitmine Immersion Technologies (NYSE:BMNR) shares have surged by 4% after it revealed that it has bought an additional 9,926 Ethereum (CRYPTO: ETH), bringing its total holdings to a staggering 5.82 million ETH valued at approximately $11 billion.

This purchase marks the company's 14th consecutive week of buying ETH as part of its ETH treasury strategy launched on June 30, 2025.

Bitmine now owns around 4.8% of the total circulating supply of Ethereum, which amounts to 120.7 million coins, meaning it is 96% of the way towards its goal of owning 5% of the entire supply.

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.