Bitmine Immersion Technologies now holds nearly 5.8 million ether, making it the largest corporate Ethereum treasury in the world. The company disclosed the holdings in its latest update, showing it controls about 4.8% of all ETH in circulation. The stash is valued at roughly $11 billion when combined with cash, marketable securities, and other crypto bets.
The scale of the ETH position
Bitmine's Ethereum treasury strategy has been running for over a year — the company has bought ETH every week since June 30, 2025. As of August 2, it held 5,797,813 ETH. That's more than any other publicly traded company, and second only to Strategy Inc. (MSTR) in the global corporate crypto treasury rankings.
Most of that ETH isn't sitting idle. Bitmine has staked 4,917,189 ETH — about 85% of its holdings — on its own MAVAN platform. The staking is generating an annualized yield of 2.67% over the past seven days. At current rates, the projected annualized staking reward hits $291 million when fully staked; right now it's pulling in $247 million a year.
Buyback blitz continues
Bitmine isn't just accumulating ETH. It's also buying back its own stock at a rapid clip. The company repurchased 4.5 million shares of common stock in the past week under a $4 billion buyback program. That brings total repurchases to over 16 million shares since July 1, 2026.
The buyback program is aggressive, and the timing lines up with Bitmine's inclusion in the Russell 1000 Large-cap index on June 26. That index addition likely boosted visibility among institutional investors.
Beyond ether: Bitcoin, stakes, and cash
ETH dominates Bitmine's balance sheet, but it's not the only asset. The company also holds 209 Bitcoin, a $180 million stake in Beast Industries, and $61 million in Eightco Holdings (ORBS). It has $173 million in cash and marketable securities. Its Series A Preferred Stock trades on the NYSE under the symbol BMNP.
Institutional backers include ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Thomas Lee. That's a who's who of crypto-friendly investors.
ETH outperforms the Nasdaq
July was a good month for ether. ETH outperformed the Nasdaq 100 by 2,500 basis points — 25 percentage points — the largest gap since July 2025. That kind of relative strength helps explain why Bitmine keeps adding to its position.
The company shows no signs of slowing down. It continues to buy ETH weekly, and the buyback program has room to run. With nearly 5% of all ether in its treasury, Bitmine has tied its fate to Ethereum's success more tightly than any other public company.
