Bitmine owns 5.85 million ETH worth $14.9 billion

Bitmine Immersion Technologies (NYSE: BMNR) has again bought Ethereum last week and now holds 5,847,611 ETH. That is approximately 4.8% of the total supply. The total value of all crypto holdings, cash and other investments amounts to $14.9 billion. The company thus positions itself as the world’s largest Ethereum treasury and the second largest crypto treasury in the world, after Strategy Inc.

Ethereum is available at OKX and Bybit.

In short:

• Bitmine bought 32,447 ETH last week and now holds 5.85 million ETH, accounting for 4.8% of the total supply.
• The company has 5.07 million ETH staked, with expected annual staking income of $330 million.
• The total portfolio including cash and other investments amounts to $14.9 billion.

Weekly purchases maintained for over a year

As PR Newswire reports, Bitmine purchased 32,447 ETH last week. The strategy has now been running for more than fourteen months: the company has been buying ETH every week since the start of the Ethereum treasury strategy on 30 June 2025.

In addition to its ETH holdings, Bitmine holds 210 Bitcoin, a stake of $180 million in Beast Industries and a stake of $89 million in Eightco Holdings. The cash position and marketable securities amount to $308 million.

Staking yields $330 million annually

Of the 5.85 million ETH, Bitmine has 5,067,309 ETH staked, or 87% of its total holdings. At the current ETH price of $2.440, that staked portion represents a value of $12.4 billion. Expected annual staking income currently amounts to $330 million, based on a seven-day annualised yield of 2.67%.

For staking, Bitmine partly uses its own platform MAVAN, which was launched earlier this year. The company also wants to open this platform to institutional investors, custodians and other parties looking for staking infrastructure.

Tom Lee expects further ETH gains

Chairman Tom Lee points to the recent price development of Ethereum as a reason for optimism. According to him, ETH rose by more than 30% last week, the largest weekly gain since May 2025. Lee states that similar weekly gains in the past, namely in July 2021 and May 2025, each time served as a prelude to much larger price movements. In those cases, gains of 167% and 170% respectively followed.

Lee expects that easing financial conditions, the rise of Wall Street tokenisation and the growth of agentic AI will be favourable for Ethereum. He also cites signals from the White House about support for crypto and the purchase of long-dated bonds by the US Department of the Treasury as positive factors. These are expectations for now, not guarantees of future returns.

By comparison: Strategy Inc., which focuses on Bitcoin, holds approximately 840,447 BTC worth around $70 billion according to Bitmine, and therefore ranks first worldwide in terms of crypto treasury size.