Bitmine Immersion Technologies ETH Holdings Climb to 5.82 Million Tokens, Total Assets Reach $11.4 Billion

Bitmine Immersion Technologies Inc. (NYSE: BMNR) announced that its Ethereum holdings have reached 5,815,164 tokens as of August 16, 2026, representing approximately 4.8% of the total ETH supply of about 120.7 million. Combined with other crypto positions, cash, marketable securities, and selected equity stakes, the company's total crypto, cash, and related holdings stood at $11.4 billion.

The update shows the firm continues its strategy of accumulating Ethereum for long-term investment. Over the prior week, Bitmine acquired 9,926 ETH. The company stated it has purchased ETH every week since launching its Ethereum treasury strategy on June 30, 2025, roughly 14 months earlier. Management indicated the firm is now 96% of the way toward its stated target of holding 5% of the ETH supply, an initiative it has referred to as the "Alchemy of 5%."

Holdings Breakdown and Staking Operations

As of the August 16 valuation, the portfolio included 5,815,164 ETH priced at $1,893 each according to Coinbase data, 210 Bitcoin, a $180 million stake in Beast Industries, a $73 million stake in Eightco Holdings (NASDAQ: ORBS),and $78 million in total cash and marketable securities. The Eightco position was described as providing indirect exposure to OpenAI among publicly listed equities.

A substantial portion of the Ethereum is staked. Bitmine reported 5,067,309 staked ETH, valued at $9.6 billion at the $1,893 price, equivalent to 87% of its total ETH holdings. The company operates the Made in America Validator Network, or MAVAN, an institutional-grade staking platform initially developed for its own treasury and intended for expansion to other institutional investors, custodians, and partners.

Annualized staking revenues were projected at $250 million based on current operations. The company's own staking generated a 7-day annualized yield of 2.61%.

Share Repurchases and Capital Allocation

Alongside crypto accumulation, Bitmine has actively repurchased its common shares. In the past week the company bought back 1.7 million shares. Cumulative repurchases since the start of July 2026 exceeded 20.8 million shares under a previously authorized $4 billion program. Management described the common shares as undervalued and characterized the buyback as the largest executed by any Ethereum, Bitcoin, or crypto digital asset treasury company.

Earlier weekly updates had shown similar patterns of capital deployment between ETH purchases and share repurchases. The firm was added to the Russell 1000 Large-cap index on June 26, 2026. Its Series A Preferred Stock trades on the NYSE under the symbol BMNP.

Management Commentary on Market Conditions

Chairman Thomas "Tom" Lee commented on the ETH/BTC ratio, which stood at 0.02994 and was rising. He noted the ratio had moved above a multi-year downtrend and viewed it as an indication that markets are beginning to recognize materialization of tokenization and agentic-AI applications that could benefit Ethereum.

Lee referenced prior cycles in which the ETH/BTC ratio rose during periods of increased Ethereum usage relative to Bitcoin, including ICOs, NFTs, and stablecoins. He projected the next cycle would be driven by Wall Street tokenization on blockchain and agentic-AI applications using blockchains.

Management also pointed to the GENIUS Act and the Securities and Exchange Commission's Project Crypto as potentially transformative for financial services, comparing their significance to the 1971 end of the Bretton Woods system and the U.S. dollar's departure from the gold standard.

Bitmine remains supported by a group of institutional investors that includes ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Lee himself in a personal capacity. The company positions itself as the largest Ethereum treasury worldwide and the second-largest global crypto treasury overall, behind Strategy Inc.'s Bitcoin holdings.

Bitmine Immersion Technologies operates across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. Its activities include generating yield on holdings, developing staking infrastructure through MAVAN, and making selected early-stage blockchain investments.