BitMine Immersion Technologies acquired 27,801 ETH over the past week, lifting its total holdings to 5,770,038 ETH as of July 12. The position represents about 4.8% of Ethereum’s 120.7 millio
BitMine Immersion Technologies acquired 27,801 ETH over the past week, lifting its total holdings to 5,770,038 ETH as of July 12.
The position represents about 4.8% of Ethereum’s 120.7 million circulating supply, placing the company 96% of the way toward its stated goal of controlling 5% of all ETH.
The latest treasury update valued the ETH position at roughly $10.5 billion using a reference price of $1,820. BitMine also held 206 BTC, $482 million in cash and marketable securities, a $180 million investment in Beast Industries and a $69 million stake in Eightco Holdings.
Total crypto, cash, marketable securities and strategic investments reached $11.3 billion, up from $11.1 billion a week earlier.
BitMine has staked 4,917,189 ETH, equal to about 85% of its Ethereum treasury and worth nearly $9 billion at the company’s July 12 reference price.
Projected annual staking revenue reached $242 million based on a seven-day annualized yield of 2.70%. Staking the entire ETH position through BitMine’s MAVAN infrastructure and outside partners would increase projected annual rewards to about $284 million.
MAVAN, short for Made in America Validator Network, was built to handle BitMine’s treasury assets and is being developed for institutional investors, custodians and other Ethereum holders.
The staked total increased from 4,879,157 ETH on June 28, when BitMine added 27,084 ETH and reached 5.7 million tokens.
BitMine’s weekly purchase pace accelerated slightly from the previous reporting period as the company continued buying through Ethereum’s decline toward the $1,800 range.
“We continue to maintain a steady pace of accumulation throughout 2026,” Chairman Tom Lee said. BitMine expects to reach its 5% supply target during 2026.
The company held 5,672,956 ETH on June 21 after buying 52,203 tokens during the preceding week. That position left the treasury carrying a substantial unrealized loss against BitMine’s estimated acquisition cost, even as staking revenue became the main yield source attached to the balance sheet.
BitMine was added to the Russell 1000 Large-Cap Index on June 26 and reported five-day average daily stock turnover of $475 million as of July 10.
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