Key Takeaways:
Bitmine Immersion Technologies added 32,447 ETH last week, lifting its treasury to 5,847,611 tokens worth about $14.3 billion, the company said Monday.
Ether gained 30 percent over the past week, the largest weekly advance since May 2025, and in two prior instances of similar moves ETH went on to climb 167 percent and 170 percent, Thomas "Tom" Lee, chairman of Bitmine, said.
Bitmine's crypto, cash, marketable securities and strategic investments total $14.9 billion, including 5.85 million ETH, 210 Bitcoin, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and an $89 million stake in Eightco Holdings. The company has staked 5,067,309 ETH — 87 percent of its holdings — projecting about $330 million in annualized staking revenue at a 2.67 percent seven-day yield.
Bitmine's holdings represent 4.8 percent of Ethereum's 120.7 million token supply, leaving roughly 187,000 ETH to reach its 5 percent ownership target. The company has bought ETH every week since launching its treasury strategy on June 30, 2025.
Lee said the recent rally was overdue given strengthening crypto fundamentals, Wall Street tokenization and agentic AI applications. He also pointed to White House support for crypto and Treasury purchases of long-term bonds as improving risk appetite.
The ETH/BTC ratio has risen during crypto bull cycles driven by increasing Ethereum usage relative to bitcoin, Lee said. Prior cycles were fueled by ICOs in 2017-2018, NFTs in 2020-2021 and stablecoins in 2025. The current cycle could see the ratio rise further as Wall Street tokenizes assets on-chain and AI agents use blockchain rails.
Bitmine remains the largest Ethereum treasury globally and the second-largest crypto treasury after Strategy Inc., which holds roughly 840,447 BTC valued at about $70 billion. The company's Series A Preferred Stock trades on the NYSE under the symbol BMNP, and Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026.
At scale, when Bitmine's ETH is fully staked through its MAVAN platform and staking partners, projected annualized staking rewards reach $381 million, Lee said. The company's own staking operations generated a 2.67 percent annualized seven-day yield.
BMNR shares rose 3.5 percent in pre-market trading as ETH climbed past $2,500, according to CoinDesk data. The purchase was the company's largest weekly haul since early July, following several weeks of more modest additions.
Management believes the GENIUS Act and the SEC's Project Crypto are as significant to financial services as the 1971 end of the Bretton Woods system, which took the dollar off the gold standard. With roughly 187,000 ETH separating Bitmine from its 5 percent ownership target, the company could reach that milestone within weeks if it maintains its current acquisition pace. Bitmine is backed by institutional investors including ARK's Cathie Wood, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.
This article is for informational purposes only and does not constitute investment advice.
