BitMine Immersion Technologies now holds 5,787,414 ETH as of July 26, 2026, representing 4.8% of the global Ethereum supply of 120.7 million coins. The addition of 9,946 ETH acquired over the past week brings the publicly traded entity closer to the final stretch of its strategic target, an internal initiative known as “Alchemy of 5%”. To fully reach the 5% threshold of all circulating Ethereum, the company now needs to absorb just 247,586 more ETH from the open market.
This multi-billion-dollar digital asset stash is not sitting idle in crypto wallets. BitMine has deployed 4,917,189 ETH, or roughly 85% of its total holdings, into full staking through the MAVAN (Made in America Validator Network) network. At a reference price of $1,948 per coin, this staking position is valued at $9.6 billion. Through this lock-up mechanism, the company projects $254 million in annualized revenue based on a seven-day yield of 2.65%. If its remaining ETH holdings are eventually committed to staking, that projected annual revenue figure would climb to $299 million.
Weekly Accumulation Since 2025
This one-way accumulation pattern was not built overnight. BitMine has consistently purchased ETH every single week without pause since launching its treasury strategy on June 30, 2025. The fruits of this policy now account for nearly the company’s entire revenue structure. According to its first-quarter financial report ended May 31, the company posted $45.7 million in revenue generated entirely from staking yields and network validation. This revenue stream accounted for 98% of the company’s total revenue of $46.5 million.
Beyond scooping up crypto assets, the company, which was added to the Russell 1000 Index on June 26, 2026, has also been aggressively executing a $4 billion share buyback program. Over the past week, it repurchased 6.1 million shares, up from 5.5 million shares the previous week. Since July 1, the firm has bought back a total of 11.6 million shares from the equity market. This capital deployment across two fronts reduced its net cash position from $385 million to $268 million in just one week.
Chasing a $2,500 Price Target
Company Chairman Tom Lee predicts that ETH has room to test the $2,000 level and potentially break through the $2,500 mark. This bullish outlook is grounded in the assumption that the asset’s price trajectory will continue to mirror the recovery pattern of the S&P 500 stock index following the October 1987 market crash.
Controlling crypto on such an institutional scale presents a new reality. When a publicly traded company absorbs nearly five percent of the entire supply of the world’s second-largest cryptocurrency to turn it into a yield engine, it is no longer just a routine investment strategy - it is tangible proof of how the boundary between traditional capital markets and the crypto economy is blurring on a single balance sheet.
Reported by crypto.news.
Read also: How Crypto Staking Works and Its Risks
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
