Bitmine Immersion Technologies ($BMNR) shares rose around 6% intraday on August 24 as the company's latest weekly treasury update confirmed its position as the world's largest Ethereum holder
Bitmine Immersion Technologies ($BMNR) shares rose around 6% intraday on August 24 as the company's latest weekly treasury update confirmed its position as the world's largest Ethereum holder.
Bitmine's Ethereum position now stands at 5,847,611 $ETH, valued at a reference price of $2,440 per token sourced from Coinbase. The combined crypto, cash, marketable securities and "moonshot" investments reached $14.9 billion, anchored by 5.85 million $ETH and 210 $BTC.
Bitmine's $ETH position represents 4.8% of the 120.7 million-coin supply. The company also holds a $180 million stake in Beast Industries and $89 million in Eightco, giving investors indirect exposure to OpenAI. Of its total ETH holdings, 5,067,309 are currently staked, valued at $12.4 billion, generating a 7-day annualized yield of 2.67% and supporting projected annualized staking revenues of around $330 million.
Bitmine added 32,447 $ETH last week, worth roughly $81.2 million at current prices, its biggest weekly haul since early July. The purchase brings the company to within approximately 187,000 tokens of its stated goal of owning 5% of Ethereum's total supply. The company has added $ETH every week since launching its Ethereum treasury strategy on June 30, 2025, around 14 months ago.
$ETH traded near $1,900 last Wednesday before surging roughly 30% and briefly topping $2,500, its largest weekly gain since May 2025. Two forces appear to be driving the move: a return of inflows into spot Ethereum ETFs and an accelerating wave of short liquidations that compounded upward price pressure.
Management sees the ETH/BTC ratio rising further in the current cycle, citing Wall Street tokenization on the blockchain and the growth of agentic AI as key tailwinds. At the current supply level, reaching the 5% target would require roughly 6.04 million $ETH, leaving Bitmine about 187,000 tokens short of its goal.
SourcesBitmine Immersion Technologies official press release via PR NewswireCoinDesk: Bitmine buys $81 million in ETH amid crypto rally
