Bitmine Immersion (BMNR) has once again added to its Ethereum holdings. The largest Ethereum treasury company acquired 10,399 ETH worth $19.1 million last week, following a purchase of 9,946 ETH the previous week. This accumulation brings Bitmine’s total asset holdings to 5.8 million ETH - equivalent to 4.8% of the total circulating Ethereum supply worldwide.
Bitmine’s wealth does not stop there. The company’s total crypto assets, cash, and securities have now surpassed $11.3 billion as of August 2. In addition to its majority stake in Ethereum, its wallet holds 209 BTC, cash and securities valued at $173 million, as well as equity stakes in Beast Industries and Eightco Holdings.
Why Choose the Staking Route
Behind the scenes, Bitmine is not letting its coins sit idle. Approximately 4.9 million ETH - representing 85% of total holdings - is deployed in staking through the MAVAN platform. This move is projected to generate passive income of $247 million per year.
At the same time, management also repurchased 4.5 million shares of common stock on the open market. This addition brings Bitmine’s recent total share buybacks to 16 million shares.
Signals of a 2025 Rally Repeat
Bitmine chairman Tom Lee believes this aggressiveness is backed by strong calculations. He noted that Ethereum outperformed the Nasdaq 100 index by 2,500 basis points throughout July - the largest performance gap since July 2025.
Lee pointed to the year 2025 as a reference. At that time, a similar movement in July triggered a rally in ETH price from $2,375 to surging past $4,000 the following month. Although the trend outlook is claimed to be positive, BMNR stock fell 2.1% in the pre-market session due to the weakening of the ETH price to $1,842 late last week.
Institutional Shortcut
Beyond price speculation, Lee emphasized Bitmine’s tactical function in the capital market. Large asset managers bound by strict regulations cannot buy ETH directly due to the hassle of managing and securing crypto wallets. However, they are free to purchase BMNR stock, which is listed on the Russell 1000 index on the NYSE.
This move positions Bitmine as more than just a token hoarder. They are building a bridge for trillions of dollars in traditional stock markets looking to gain crypto exposure without violating internal corporate protocols.
As reported by CoinDesk.
Also read: 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.
