Bitmine Surpasses $14B in Ethereum Holdings with 65th Straight Week of Buying
Bitmine Immersion Technologies has continued its streak of buying Ethereum (ETH) for the 65th consecutive week, adding 53,501 ETH to its holdings. This latest purchase lifted Bitmine's total ETH holdings to approximately 5.9 million units, valued at around $14.8 billion based on an ETH price of $2,511 as of August 31.
The company now holds 4.9% of Ethereum's circulating supply, making it the largest corporate holder of the cryptocurrency by total holdings. Bitmine has maintained its accumulation strategy through a prolonged market downturn that began in Q4 2025, leaving the company with roughly $5.1 billion in unrealized losses on its ETH holdings.
The paper losses reflect the average cost basis accumulated during the downturn when ETH prices were significantly higher than current levels. Of Bitmine's total ETH balance, 86% is staked through the company's MAVAN platform and staking partners, generating projected annualized staking revenues of $335 million based on a seven-day annualized yield of 2.63%.