Bitmine's Ethereum Stash Swells Past 5.8 Million Tokens

Bitmine Immersion Technologies has significantly increased its Ethereum holdings to 5.81 million tokens, making it one of the largest corporate holders in the space.

The company's chairman, Tom Lee, said that they have bought ETH every week since launching the strategy on June 30, 2025, and are now within striking distance of controlling 5% of the entire Ethereum supply.

Despite a recent surge in Ethereum prices, BMNR shares have taken a beating over the past year, dropping 56.80%, but Lee believes the market is undervaluing the shares.

Bitmine's treasury now holds $11.6 billion in assets, including $5.8 billion worth of staked Ethereum, which has generated a 2.63% annualized yield and projected $257 million in yearly revenue.

The company's largest repurchase by any digital asset treasury company, with 19.1 million shares bought back under its $4 billion authorization since July 1.