BitMine Immersion Technologies continued expanding its Ethereum treasury last week, adding 9,926 ETH and bringing its total holdings to 5,815,164 ETH as of Aug. 16.
Using an Ethereum price of $1,893, the company valued its ETH holdings at roughly $11 billion. According to BitMine, that amount represents about 4.8% of Ethereum’s estimated circulating supply, moving the company even closer to its long-term goal of owning 5% of all ETH in circulation.
Investors reacted positively to the update. BitMine’s stock (BMNR) rose 3.68% on Monday, closing at $18.73, and added another 0.37% in after-hours trading. The company’s market capitalization stood at approximately $11.3 billion, closely matching the value of its reported assets.
BitMine refers to its strategy as the “Alchemy of 5%”, a plan aimed at eventually holding around 6.03 million ETH. Based on current figures, the company is now only about 220,000 ETH away from reaching that target.
A significant portion of the treasury is already generating yield. BitMine reported that 5,067,309 ETH, or roughly 87% of its holdings, is currently staked. The remaining ETH is held outside staking arrangements.
The company estimates that its staking operations could generate around $250 million in annualized revenue, based on recent staking yields of approximately 2.61%. However, management noted that this is only a projection, as staking rewards fluctuate depending on network conditions, validator participation, and Ethereum activity.
BitMine’s Ethereum strategy has expanded rapidly since mid-2025. Earlier updates showed weekly purchases exceeding 100,000 ETH at times, making the latest addition of 9,926 ETH relatively modest compared to previous acquisitions.
Beyond Ethereum accumulation, BitMine has also been actively buying back its own shares. The company repurchased 1.7 million shares during the latest week, bringing total share repurchases since July 1 to more than 20.8 million shares. These purchases are part of a broader $4 billion share buyback program authorized by the board.
In total, BitMine reported $11.4 billion in crypto assets, cash, marketable securities, and other investments. Alongside its Ethereum holdings, the company disclosed ownership of 210 Bitcoin, approximately $78 million in cash and securities, and investments in other companies, including Beast Industries and Eightco Holdings.
As Ethereum remains the dominant asset on its balance sheet, BitMine’s financial performance and market value continue to be closely tied to ETH’s price. Investors will now be watching whether the company continues purchasing Ethereum at the same pace and how quickly it can achieve its goal of controlling 5% of the network’s total supply.
