BitMine Immersion Technologies has purchased another 53,501 ETH, lifting its Ethereum treasury to 5,901,112 tokens worth about $14.54 billion at the time of writing.
Summary
- BitMine has bought Ethereum for 65 consecutive weeks since launching its treasury strategy.
- The company now controls about 4.9% of Ethereum’s reported 120.7 million-token supply.
- More than 5.06 million ETH is staked, producing an estimated $335 million in annual revenue.
- ETH trades near $2,464 as resistance around $2,540–$2,550 continues to limit its recovery.
BitMine’s Ethereum holdings have reached 5.9 million ETH
BitMine Immersion Technologies said in its latest treasury update that it held 5,901,112 ETH as of Aug. 30, after buying 53,501 tokens during the preceding week.
“Over the past week, we acquired 53,501 ETH,” Chairman Tom Lee said.
Using the company’s reference price of $2,511, the Ethereum position was valued at approximately $14.82 billion when BitMine recorded the snapshot at 3 p.m. Eastern Time. Management said its ETH balance accounted for about 4.9% of Ethereum’s reported supply of 120.7 million tokens.
At the time of writing, CoinGecko data showed Ethereum trading near $2,464, down about 0.4% over 24 hours and 1.1% across seven days. Applying that updated price places BitMine’s ETH holdings at approximately $14.54 billion, although the value will move with the token’s market price.
The latest acquisition extended BitMine’s buying run to 65 consecutive weeks. According to Lee, the company has added ETH every week since it adopted the treasury strategy on June 30, 2025.
Buying accelerated compared with several earlier updates. Earlier crypto.news coverage showed BitMine adding 9,946 ETH in late July, taking its holdings to 5,787,414 tokens. Another 9,926 ETH entered the treasury during the week ending Aug. 16, followed by 32,447 ETH in the next reporting period.
BitMine previously identified ownership of 5% of Ethereum’s supply as its treasury target. Based on the company’s supply figure, 5% would equal about 6.04 million ETH, leaving the current balance roughly 134,000 tokens below that threshold.
In June, Lee indicated that buying could slow once the company approached its target. A previous treasury report placed the balance at approximately 5.54 million ETH, or 4.6% of supply, after BitMine acquired 25,000 ETH from BitGo.
Staked Ethereum could produce $335 million annually
Alongside the treasury expansion, BitMine reported that 5,067,309 ETH had been staked through its own infrastructure and outside validator partners. The position accounts for approximately 85.9% of its entire Ethereum balance.
At CoinGecko’s latest price, the staked tokens are worth about $12.49 billion. BitMine valued the same position at close to $12.73 billion using its Aug. 30 reference price of $2,511.
Management estimated that the deployed ETH could generate $335 million in annualized staking revenue. The calculation used a seven-day annualized staking yield of 2.63%, meaning the actual return can change with Ethereum’s validator participation rate, network rewards, operational performance and protocol conditions.
Once more of its ETH is deployed, Lee said annual staking revenue could reach $390 million under similar yield conditions. Around 833,803 ETH remains outside the reported staked balance.
BitMine launched MAVAN, short for Made in America Validator Network, in 2026 as its institutional Ethereum staking operation. Part of the company’s balance is already deployed through MAVAN, while partner validators handle another portion.
Staking has developed into a central revenue source for the company. A July treasury report said BitMine generated $45.7 million from staking and validation during the three months ended May 31, equal to about 98% of its $46.5 million in quarterly revenue.
The income also supports BitMine’s preferred-stock strategy. In June, the company declared a $0.1056 dividend on each share of its 9.50% Series A Perpetual Preferred Stock, traded on the New York Stock Exchange under the ticker BMNP. Lee previously said staking income could help finance payments on the preferred shares.
BitMine’s combined holdings stood at $15.6 billion
Beyond Ethereum, BitMine’s Aug. 30 disclosure listed 211 Bitcoin, a $180 million investment in Beast Industries and an $81 million stake in Eightco Holdings. Cash and marketable securities totaled $541 million.
Using the prices and valuations captured for the company’s update, BitMine placed the combined value of its crypto assets, cash, securities and strategic investments at $15.6 billion. The figure represents a dated company snapshot rather than a fixed balance because cryptocurrency prices and listed investments continue to fluctuate.
BitMine described itself as the largest reported corporate Ethereum treasury. Strategy, led by Executive Chairman Michael Saylor, remains the largest digital-asset treasury company by total asset value because of its Bitcoin holdings.
For U.S. investors, exposure is available through BitMine’s NYSE-listed common stock under the ticker BMNR, as well as its BMNP preferred shares. BMNR traded near $24.27 at the time of writing, up about 2% during the session, with an intraday range between $23.72 and $24.46.
Fundstrat previously found that BMNR had an 80% correlation with ETH in a study of 17 large-cap stocks, compared with 74% for Coinbase. The research did not disclose the period or return interval used for the calculation, and correlation can change as stock and cryptocurrency prices move.
BitMine’s latest five-session average daily dollar trading volume reached approximately $1.36 billion through Aug. 29, according to the company. Management said the figure placed BMNR among the most heavily traded U.S. stocks by dollar volume.
Concentrating much of the company’s reported value in Ethereum also creates risks for shareholders. BitMine’s quarterly SEC filing identifies ETH price volatility, liquidity constraints, unrealized losses, custody arrangements, counterparty exposure and changes to U.S. rules governing digital assets and staking as factors that could affect its results.
Ethereum price remains below the $2,550 resistance zone
Ethereum was trading near $2,464 at the time of writing, giving the token a market capitalization of approximately $297.3 billion, according to CoinGecko. Trading volume stood near $15.45 billion over 24 hours.
Price has remained below the $2,540–$2,550 resistance area after several failed attempts to sustain a breakout. A recent Ethereum technical analysis identified resistance near $2,533, where an ascending triangle and a concentration of leveraged positions created another test for buyers.
On the weekly chart cited in the supplied analysis, ETH sat between its 50-week exponential moving average near $2,374 and its 50-week simple moving average around $2,542. The two averages define the immediate consolidation range while the price remains below the upper boundary.
Crypto analyst Ted said a weekly close above $2,550 could clear a path toward resistance near $2,800. Under his downside scenario, losing the $2,370 area could expose the $2,180–$2,220 support zone.
