Bitmine Surpasses 5 Million ETH Holdings, Cementing Status as Largest Ethereum Treasury

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.8 million tokens, representing approximately 4.8% of the total ETH coin supply. This milestone comes after a year of significant growth in Bitmine's ETH treasury strategy.

In July, Ethereum outperformed the Nasdaq 100 by 2,500 basis points, its largest outperformance since July 2025. Thomas 'Tom' Lee, Chairman of Bitmine, attributed this to the strengthening fundamentals of crypto and stated that sizable outperformance in ETH typically leads to Bitmine's shares outperforming ETH over the following month.

Bitmine repurchased 4.5 million common stock in the past week under its $4 billion share repurchase program. Since July 1, 2026, Bitmine has repurchased a total of 16.1 million shares. This buyback represents the largest ever executed by any Ethereum or crypto DAT.

Bitmine's staking operations generated a 7-day yield of 2.67% (annualized), with projected ETH staking rewards totaling $291 million on an annualized basis. The company's total staked ETH stands at 4,917,189 tokens, valued at approximately $9.2 billion.

Bitmine remains the largest Ethereum treasury in the world and holds digital assets strategically to generate yield and support liquidity. Its activities include investments in early-stage blockchain opportunities ('moonshot' investments) and ancillary mining, hosting, and consulting services.