BitMine Immersion Technologies (NYSE: BMNR) announced Sunday that it has grown its Ethereum holdings to 5,787,414 ETH, pushing its total treasury value to $11.8 billion.
The company’s combined holdings include 5.8 million ETH, 208 Bitcoin valued at approximately $13.6 million, and $268 million in cash and marketable securities.
BitMine also holds a $180 million stake in Beast Industries, the company associated with MrBeast, alongside a $61 million investment in Eightco Holdings.
The firm’s latest purchase of 9,946 ETH last week brought its total to approximately 4.8% of Ethereum’s entire circulating supply, edging closer to its stated target of 5%.
Chairman Tom Lee commented on the acquisition, stating: “We increased our equity buyback as we view the rising ETH/BTC ratio, despite the falling odds of passage of the Clarity Act in 2026, as a sign crypto prices are strengthening.”
Lee added: “In fact, this ratio is now at a 3-month high at 0.3000, which we believe bodes well for future strengthening of ETH prices.”
Earlier in 2026, BitMine launched MAVAN, the Made in American VAlidator Network, an institutional-grade staking platform originally built to support the company’s own Ethereum treasury operations.
As of July 26, 2026, BitMine’s total staked ETH stands at 4,917,189, worth approximately $9.6 billion at $1,948 per ETH, with projected annualized staking rewards of $299 million based on a 2.65% seven-day BMNR yield.
MAVAN is being positioned to expand beyond BitMine’s internal use, with plans to serve institutional investors, custodians, and ecosystem partners seeking professional-grade staking infrastructure.
In June, BitMine completed a preferred stock offering that raised nearly $274 million, with proceeds directed toward additional Ethereum purchases, infrastructure development, share buybacks, and MAVAN’s expansion.
Earlier this month, the company added $73 million worth of ETH, lifting holdings above 5.74 million ETH before the most recent purchase was announced.
BMNR shares climbed roughly 13% during early Monday trading as investors responded to the latest acquisition news, with the stock rising from a daily low below $16.60 to nearly $18 before settling lower.
Ethereum’s own 4% price recovery and a 6.1 million share buyback program also contributed to the stock’s upward move during the session.
In May, Lee noted that BitMine’s inclusion in the Russell 1000 Index could expand its institutional investor base as its holdings approached 4.3% of Ethereum’s circulating supply.
BitMine’s aggressive accumulation strategy mirrors the Bitcoin treasury playbook pioneered by Strategy, a model that a growing number of public companies including Sharplink and Bit Digital have begun to adopt for Ethereum.
Despite the recent momentum, the company remains significantly underwater on its average buying price, which sits at nearly twice the current market value of Ethereum.
