By BitMine Immersion Technologies added another 32,447 ETH over the past week, lifting its Ethereum holdings to 5,847,611 tokens as the world’s largest corporate Ether treasury continues moving toward ownership of 5% of the cryptocurrency’s supply. The company disclosed the updated position Monday, August 24, based on holdings as of 2 p.m. ET on August 23.
At BitMine’s reference price of $2,440 per ETH, its Ether position was worth approximately $14.27 billion. BitMine said its combined cryptocurrency, cash, marketable securities and other investments totaled $14.9 billion. Besides Ethereum, the portfolio included 210 BTC, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and an $89 million position in Eightco Holdings. The latest 32,447 ETH addition was worth approximately $79.2 million using BitMine’s $2,440 reference price.
BitMine Moves Within 187,000 ETH of 5% Target
BitMine’s 5,847,611 ETH represents approximately 4.8% of Ethereum’s 120.7 million-token supply. That puts the company roughly 187,000 ETH short of owning 5% of the current supply, the threshold Chairman Tom Lee has described as BitMine’s “Alchemy of 5%” objective. BitMine says it is now approximately 97% of the way toward that target. The company has accumulated ETH every week since launching its Ethereum treasury strategy on June 30, 2025, according to Lee. The pace has slowed substantially as BitMine approaches its target. The company reported 5,805,238 ETH on August 9, meaning its position has increased by approximately 42,373 ETH over the subsequent two weeks.
BitMine’s latest purchase also coincided with a major recovery in Ether prices. ETH gained approximately 30% during the preceding week, which the company described as its strongest weekly performance since May 2025. The price appreciation had an even larger effect on BitMine’s balance sheet than its latest acquisition. Its total crypto, cash and investment holdings increased to $14.9 billion from approximately $11.6 billion reported two weeks earlier, largely reflecting Ethereum’s rally.
More Than 5 Million ETH Is Now Staked
BitMine is increasingly combining its accumulation strategy with staking revenue. As of August 23, the company had staked 5,067,309 ETH, representing approximately 87% of its total Ethereum position and worth around $12.4 billion using the same $2,440 reference price. BitMine said its staking operations were producing a seven-day annualized yield of 2.67%. At current deployment levels, the company projects approximately $330 million of annualized staking revenue. If its Ethereum holdings are fully staked through its MAVAN validator network and other staking partners, BitMine estimates annualized rewards could rise to approximately $381 million under the same yield assumption. Those figures are projections rather than guaranteed revenue and will fluctuate with Ethereum staking yields, validator performance and the amount of ETH deployed.
BitMine remains the largest publicly disclosed corporate Ethereum treasury and says it is the world’s second-largest crypto treasury overall behind Strategy’s Bitcoin holdings. The company’s concentration is increasingly significant for Ethereum itself. Reaching 5% would give a single publicly traded company exposure to roughly one-twentieth of the entire ETH supply, with most of that position potentially participating in network staking. BitMine’s next approximately 187,000 ETH will therefore be closely watched. At $2,440 per token, acquiring that amount would require roughly $456 million before accounting for changes in Ethereum’s supply or market price. With BitMine still reporting weekly purchases 14 months after launching the strategy, the company is now within striking distance of turning its 5% target from an unusually ambitious corporate treasury objective into an actual ownership threshold.