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BitMine Immersion Technologies has accumulated $15.7 billion in combined crypto, cash, and other holdings as its aggressive Ethereum purchasing campaign accelerates. The company now controls 4.9% of all ETH in existence, moving closer to its stated goal of owning 5% of the total supply.

• BitMine holds 5,929,198 ETH tokens valued at $2,495 each as of September 7, 2025.
• The company added 28,086 ETH in the past week and has purchased Ether every week since June 30, 2025.
• BitMine’s ETH holdings represent 4.9% of the 122.0 million ETH in total supply.

• $15.7B Total crypto, cash, and moonshot holdings as of September 7
• 5.9M Ethereum tokens held, up from 5.8 million one week prior
• $330M Projected annualized staking revenue at current yield rates
• $593M Cash and marketable securities, up from $541 million weekly

BitMine Immersion Technologies (BMNR) disclosed in an 8-K filing on September 8 that its total assets reached $15.7 billion as of the previous day, unchanged from $15.6 billion reported a week earlier despite continued acquisition activity. The company’s Ethereum treasury expanded to 5,929,198 tokens following the purchase of 28,086 ETH over the seven-day period, maintaining a consistent weekly buying pattern that began on June 30, 2025. BitMine valued its holdings using a Coinbase price of $2,495 per ETH token.

BitMine Closes in on Five Percent Ethereum Ownership Target

BitMine’s Ethereum holdings now represent 4.9% of the 122.0 million ETH tokens in total supply, placing the company within striking distance of what it calls the “Alchemy of 5%,” its stated objective of owning exactly 5% of all ETH. This milestone would make BitMine by far the largest corporate holder of Ether, a position it seeks as both a strategic reserve and a staking income source.

The company has executed purchases every single week since launching its acquisition strategy in late June, demonstrating a mechanical commitment to accumulation regardless of price fluctuations. At current holdings, BitMine would need to acquire fewer than 1.2 million additional ETH to reach its 5% target, a quantity that could be amassed in approximately one month at the current acquisition pace.

BitMine’s approach mirrors strategies employed by other large institutional holders seeking to build substantial cryptocurrency treasuries. The company’s disciplined weekly purchasing regimen represents a dollar-cost averaging strategy designed to mitigate timing risk and volatility concerns inherent in large-scale crypto acquisitions.

Staking Agreement Switch to Flat 1.50% Fee Structure

BitMine terminated its existing staking management agreement with Ethereum Tower LLC effective September 4, ending an arrangement that had been in place since March 24 under which Ethereum Tower collected a share of net staking revenue. The company stated it incurred no material early termination penalties under the original ten-year contract, which both parties mutually waived after an initial notice period.

A BitMine subsidiary simultaneously executed a new advisory agreement with American Validator LLC, an affiliate of Ethereum Tower, switching to a flat fee of 1.50% of staking rewards. This structural change provides BitMine with greater cost predictability and higher net staking returns as its Ethereum holdings continue to expand.

Of BitMine’s 5,929,198 ETH holdings, approximately 5,067,309 tokens worth $12.6 billion are currently staked through MAVAN, the company’s in-house Made in America Validator Network built during 2025. The staking transition reflects the broader industry shift toward flat-fee structures as cryptocurrency staking services mature and competition intensifies among validator operators.

Projected annualized staking revenue at $330 million, rising to $386 million once the ether is fully staked, at a 2.61% seven-day yield.

Tom Lee, Chairman

Cash Position Rebounds as Bitcoin and Equity Stakes Accumulate

BitMine’s cash and marketable securities balance rebounded to $593 million on September 7, up from $541 million the previous week and $78 million on August 16. The significant improvement reflects the company’s ability to generate revenue through staking activities and maintain liquidity for ongoing acquisition operations.

Beyond its Ethereum holdings, BitMine maintained a diversified portfolio including 211 Bitcoin valued at approximately $180 million, a $180 million stake in Beast Industries, and a $91 million position in Eightco Holdings (ORBS). This diversification strategy balances concentrated cryptocurrency exposure with alternative investments seeking exposure to emerging technology trends.

BitMine described the Eightco stake as providing exposure to OpenAI through one of the only listed equities offering such indirect access to the artificial intelligence company. The company’s portfolio approach demonstrates conviction in both blockchain infrastructure and artificial intelligence as transformative technology sectors with significant long-term value potential.

BitMine ranked among the most actively traded US stocks by dollar volume, averaging $1.10 billion in daily volume during the five trading days ending September 4, according to Fundstrat data. The company’s combined crypto treasury stands as the largest among all corporate Ethereum holders and second only to MicroStrategy (MSTR) in total crypto holdings across all publicly traded firms, though MicroStrategy’s Bitcoin position of 840,447 BTC remains worth approximately $66 billion.

The elevated trading volume reflects substantial investor interest in companies with direct cryptocurrency exposure and treasury strategies. BitMine’s publicly traded status provides retail and institutional investors with a regulated vehicle for gaining exposure to concentrated Ethereum positions without directly managing digital asset custody and operational infrastructure.