Bitmine Immersion Technologies added another 9,926 Ethereum [ETH] over the past week. Thanks to the same, it now owns 5.815 million ETH in holdings, worth about $11 billion.
These holdings represent roughly 4.8% of all ETH in circulation. In other words, Bitmine is just 0.2% away from its goal of “Alchemy of 5%.” Beside accumulation, the Ethereum DAT has also staked 5,067,309 ETH worth $9.6 billion at a price of $1,893 per ETH.
Bitmine’s recent efforts to scale up
Remarking on the update, Bitmine Chairman Tom Lee said,
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 $287 million on an annualized basis (using a 2.61% 7-day BMNR yield).
On top of these initiatives, the firm is also buying back its own shares. In fact, Bitmine repurchased 1.7 million shares over the past week. This pushed its cumulative repurchases since 1st July to more than 20.8 million shares, under a previously authorized $4 billion share-repurchase program.
Finally, Bitmine was also added to the Russell 1000 Large-cap index on 26th June 2026.
Ethereum’s market dynamics paint a confusing picture
At the time of writing, Ethereum was trading at $1,899.70. On the other hand, the stock price of Bitmine (BMNR) was valued at $18.73 after a drop of 1.33% in 24 hours.
That’s not all either as Ethereum validator activity dropped to about 2.2 million ETH on 17th August too.
Since the “exit queue” has remained minimal, this might mean that more ETH is still waiting to enter the validator set than to leave it. This could be a sign of sustained demand for Ethereum staking.
On the other hand, the second-largest ETH DAT Sharplink reached a total staking reward of 24,338 ETH as its total Ethereum holdings hit 868,699 ETH worth $1.65 billion.
Final Summary
- Bitmine’s total ETH holdings now account for 4.8% of all ETH in circulation.
- The firm has also been repurchasing its own shares recently.
