BitMine Immersion Technologies, trading on the NYSE under ticker BMNR, holds 5,777,468 ETH — approximately 4.8% of Ethereum's circulating supply of 120.7 million tokens — after adding 7,430 ETH over the past week, according to a company press release reported by CoinDesk. The company pivoted from Bitcoin mining to Ethereum accumulation as a primary treasury strategy, transforming into what the source describes as a position without precedent in public markets. Total crypto, cash, and other investments on BitMine's balance sheet reached $11.5 billion, with institutional backers including ARK Invest, Founders Fund, and Pantera Capital.
BitMine Accumulates 5,777,468 ETH and Stakes 85% via MAVAN Network
BitMine's stated target is 6.035 million ETH, which would represent exactly 5% of circulating supply, according to Crypto Briefing. At the current pace, approximately 507,000 ETH stands between the company and that milestone. Chairman Tom Lee, the architect of what the company internally calls the "alchemy of 5%," has signaled that the purchasing pace may moderate as the target approaches.
The latest weekly addition of 7,430 ETH brought cumulative holdings to 5,777,468 ETH. Beyond ether, the balance sheet includes 206 bitcoin, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS), and approximately $482 million in cash and marketable securities, per CoinDesk.
Approximately 4.92 million ETH — around 85% of BitMine's total holdings — is actively staked through the company's Made-in-America Validator Network (MAVAN), a proprietary staking infrastructure the company launched in 2026. The reported 7-day staking yield sits at 2.99%, according to the company press release cited by CoinDesk.
BMNR has become one of the most actively traded equities in the US market, with daily volumes sometimes reaching into the billions of shares, according to Crypto Briefing.
BitMine Repurchases 5.5 Million Shares at $15.62 Average Price
BitMine repurchased 5.5 million shares at an average price of $15.62, concurrent with its Ethereum accumulation. The company's total crypto, cash, and other investments reached $11.5 billion, according to the CoinDesk report.
Chairman Tom Lee highlighted the rapid growth of Robinhood Chain, an Ethereum layer-2 network built on Arbitrum that launched its mainnet on July 1, 2026. "Already, dollar volumes have exceeded $1 billion, and Robinhood Chain now has more trading volume than any other decentralized exchange," Lee said in the company press release, arguing that the activity demonstrates Ethereum's utility as the underlying chain for financial applications.
BitMine's 4.8% Ethereum Stake Removes Supply from Open Market
BitMine's staked treasury of approximately 4.92 million ETH effectively removes supply from the open market. The 2.99% staking yield provides income, but as Crypto Briefing noted, that rate does not offset a severe price drawdown.
Institutional backers of BitMine include ARK Invest, led by Cathie Wood, alongside Founders Fund and Pantera Capital, according to Crypto Briefing.
FAQ
What is BitMine's total Ethereum holdings as of the past week?
BitMine holds 5,777,468 ETH after adding 7,430 ETH over the past week, according to a company press release reported by CoinDesk.
How much of BitMine's Ethereum is staked and what is the yield?
Approximately 4.92 million ETH — around 85% of BitMine's total holdings — is staked through the company's MAVAN validator network at a reported 7-day staking yield of 2.99%, per the company press release cited by CoinDesk.
What recent share repurchase did BitMine execute?
BitMine repurchased 5.5 million shares at an average price of $15.62, according to the CoinDesk report.
