Bitmine Immersion Technologies, the largest corporate holder of Ethereum, added 10,399 ETH in the past week, bringing its total treasury to 5,797,813 ETH — just shy of 5.8 million. The firm now holds 4.8% of Ethereum’s circulating supply, with combined crypto and cash holdings valued at approximately $11.3 billion. Chairman Tom Lee said ETH’s recent outperformance of Bitcoin and the Nasdaq 100 signals strengthening crypto fundamentals. Bitmine has also deployed 85% of its ETH into institutional staking through MAVAN, projecting $291 million in annual staking rewards. Meanwhile, Strategy has halted Bitcoin purchases and announced its third sale of the year.
Bitmine Immersion Technologies, the world’s largest corporate holder of Ethereum, continued its aggressive accumulation strategy by adding 10,399 coins over the past week. The company’s treasury now stands at 5,797,813 ETH, just below the 5.8 million milestone.
According to a press release shared by the former BTC miner, its crypto holdings, cash, and other investments total approximately $11.3 billion. Ethereum’s stash alone is valued at around $10.9 billion, given the asset’s retreat from over $1,900 to under $1,850.
Bitmine holds 4.8% of Ethereum’s circulating supply, cementing its position as the largest corporate holder of the asset. The firm has reduced the gap with overall crypto leader Strategy, which has not only halted its BTC purchases but has just announced its third sale of the year.
Bitmine Chairman Tom Lee noted that the company has increased its ETH position every single week since adopting the Ethereum treasury strategy on June 30 last year. Speaking on the recent Ethereum market performance, where the altcoin outperformed Bitcoin and many other altcoins, Lee stated that “it is reflective of the strengthening fundamentals of crypto.”
Lee also noted that ETH outperformed the Nasdaq 100 by 25% in July, which made it the asset’s strongest month in a year. He added, “In July, ETH outperformed the Nasdaq 100 by 2,500bp (or 25 percentage points). This is the largest outperformance since July 2025.”
Beyond accumulation, Bitmine continues expanding its staking operations through its institutional-grade platform MAVAN. The company has deployed 4.92 million ETH to work, representing 85% of its entire treasury.
Based on current yields, Bitmine projects approximately $291 million in annual staking rewards and $247 million in annualized staking revenue.
