Bitmine Surpasses 96% of 5% Ownership Target in Ethereum

Bitmine Immersion Technologies has purchased an additional 10,399 Ethereum (ETH) units over the past week. The company's total holdings of cryptocurrency, cash, and securities now stand at approximately $11.3 billion.

As of August 2, Bitmine's Ethereum holdings totaled 5,797,813 ETH, accounting for 4.8% of Ethereum's total supply of 120.7 million ETH. Since adopting its Ethereum treasury strategy on June 30, 2025, the company has reached 96% of its 5% ownership target in just 13 months.

Chairman Tom Lee attributed the outperformance of Ethereum versus Bitcoin and other altcoins to improving fundamentals. He noted that during July, Ethereum outperformed the Nasdaq 100 by 2,500 basis points (25 percentage points), which is the largest outperformance since July 2025.

In addition to expanding its Ethereum holdings, Bitmine is also growing its staking business through 'MAVAN,' an institutional staking platform. The company has already staked 4.92 million ETH, representing 85% of its total holdings, and expects annual staking rewards of approximately $291 million.