MV Capital | BitMine Adds 53,501 ETH, Lifts Treasury to 5.90 Million Tokens Near 5% Goal

Publicly traded firm reaches $15.6 billion in combined assets as weekly Ethereum purchases continue for 65 straight weeks under Tom Lee’s strategy

BitMine Immersion Technologies reported on August 31 that it acquired an additional 53,501 Ethereum tokens over the prior week, raising its total ETH holdings to 5,901,112 as of August 30. The position now accounts for approximately 4.9 percent of Ethereum’s circulating supply of 120.7 million tokens and places the company 98 percent of the way toward its stated goal of controlling 5 percent of the network.

At a valuation of $2,511 per ETH, the Ethereum treasury alone stood at roughly $14.8 billion. Combined with other crypto holdings, cash, marketable securities and strategic investments, the company’s total assets reached $15.6 billion.

Consistent Weekly Accumulation Since Mid-2025

Chairman Thomas “Tom” Lee confirmed that BitMine has purchased ETH in each of the past 65 weeks, a streak that began with the launch of its Ethereum treasury strategy on June 30, 2025. The latest addition maintains the uninterrupted buying pace that has defined the company’s approach for more than a year.

“Over the past week, we acquired 53,501 ETH. Bitmine has bought ETH for each of the past 65 weeks (every week since the inception of the ETH Treasury Strategy on June 30, 2025).”Thomas “Tom” Lee, Chairman of BitMine

Beyond Ethereum, the balance sheet includes 211 bitcoin, $541 million in cash and marketable securities, a $180 million stake in Beast Industries and an $81 million position in Eightco Holdings. These holdings form part of what the company describes as its broader crypto, cash and “moonshot” portfolio.

Staking Operations and Projected Yield

BitMine has staked 5,067,309 ETH, representing about 86 percent of its total Ethereum holdings and valued at approximately $12.7 billion at the stated price. The company projects annualized staking revenue of $335 million based on a recent seven-day annualized yield of 2.63 percent.

If the remaining unstaked tokens are fully deployed through its Made in America Validator Network, known as MAVAN, and partner validators, Lee indicated projected annual staking rewards could rise to around $390 million under similar yield conditions. MAVAN, launched earlier in 2026, was initially built to support BitMine’s own treasury and is intended to expand as an institutional staking platform.

“Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners),the projected ETH staking reward is $390 million on an annualized basis.”Thomas “Tom” Lee, Chairman of BitMine

Market Context and Corporate Position

Lee described Ethereum as the best-performing major macro asset in the third quarter of 2026 to date, outperforming the S&P 500 by 5,430 basis points through the prior Friday. He identified ETH, bitcoin and Solana as the top three performers since June 30.

“As we enter the final month of 3Q26, ETH is the best performing macro asset, outperforming the S&P 500 by 5,430bp through last Friday. In fact, the top 3 performing assets since June 30th are ETH, BTC and SOL.”Thomas “Tom” Lee, Chairman of BitMine

BitMine ranks as the largest corporate Ethereum treasury and the second-largest digital asset treasury overall, behind Strategy Inc., which holds a substantially larger bitcoin position. The company’s common stock has recorded average daily dollar trading volume of $1.36 billion over a recent five-session period, ranking it among the more actively traded U.S.-listed equities.

Lee pointed to several potential catalysts in the remaining months of 2026, including a scheduled mid-September vote on the CLARITY Act, renewed buying interest from Korean investors, the approach of the four-year crypto cycle low, and broader demand linked to tokenization and agentic artificial intelligence applications. He also noted that the ETH/BTC ratio has historically risen during periods of increased Ethereum network usage relative to bitcoin.