Bitmine Surpasses $11 Billion in Holdings, Eyes 5% ETH Goal

Bitmine Immersion Technologies (BMNR) recently announced its Ethereum holdings have reached 5.81 million tokens, which is approximately 4.8% of the total ETH supply of 120.7 million.

The company's crypto and cash holdings now total $11.6 billion, with $104 million in total cash and marketable securities. Bitmine has also invested heavily in Eightco (NASDAQ: ORBS), a publicly listed equity that provides indirect exposure to OpenAI.

According to Chairman Thomas 'Tom' Lee, the recent softer inflation and jobs data have reduced the odds of a September Federal Reserve hike from 75% to 40%. This easing of financial conditions is seen as a tailwind for crypto, with Bitmine's shares potentially outperforming ETH in the coming months.

Bitmine has repurchased over 19 million shares since July 2026 under its $4 billion share repurchase program. The company remains committed to its goal of acquiring 5% of the total ETH supply, which it believes will be a major catalyst for growth in the crypto market.