BitMine Immersion Technologies augmented its treasury by an additional 53,501 Ethereum last week, resulting in total holdings of 5.90 million ETH. The company currently holds around 4.9% of Ethereum’s supply and requires an additional 133,900 to achieve its established goal of owning 5%. BitMine held 5,901,112 ETH as of August 30, according to the latest weekly update it made available. BitMine stated it has achieved 98% progress toward its objective of acquiring 5% ownership. The company has acquired ETH consistently over the course of 65 weeks since the initiation of its treasury strategy in June 2025. With the most recent acquisition, and at the current weekly rate, the outstanding gap signifies approximately two and a half weeks of buying activity.
However, BitMine has not specified a timeline for achieving the target, and subsequent acquisitions may fluctuate. Its ETH was valued at approximately $14.8 billion based on the company’s reported price of $2,511. BitMine also has 211 Bitcoin, $541 million in cash and marketable securities, and investments in Beast Industries and Eightco, bringing all its holdings to $15.6 billion, an increase from $14.9 billion one week earlier. The additional ETH contributes merely approximately $134 million to that increase, as Ethereum’s elevated price and a $233 million surge in cash and marketable securities account for a substantial portion of the remaining growth.
BitMine has allocated 5.07 million ETH, representing approximately 86% of its treasury, to staking programs, with an estimated potential to generate around $335 million in annualised revenue. The amount staked exhibited minimal variation from the preceding week, while the estimated revenue saw a modest uptick attributed to fluctuations in the declared yield and the price of ETH. BitMine Chairman Tom Lee anticipates that institutional demand for cryptocurrency will intensify in the latter part of 2026. He also predicted that tokenisation and artificial intelligence applications would enhance Ethereum’s utilisation.
