BitMine Immersion Technologies has increased its Ethereum reserve to 5,901,112 ETH, a position the company valued at roughly $14.8 billion using an ETH reference price of $2,511. Including Bitcoin, cash, marketable securities and other investments, BitMine said its combined holdings reached $15.6 billion as of 3:00 p.m. Eastern Time on Aug. 30.
The scale of the reserve places BitMine among the largest publicly disclosed Ethereum treasury holders. The company said its ETH balance equals 4.9% of Ethereum’s 120.7 million-token supply, while its staking operations now account for more than five million ETH.
BitMine acquired 53,501 ETH during the past week and said it has added to its Ethereum position in each of the past 65 weeks. Its Ethereum treasury strategy began on June 30, 2025, according to the company.
More than 5 million ETH is staked
Of BitMine’s 5.90 million ETH reserve, 5,067,309 ETH had been committed to staking as of Aug. 30. At the company’s $2,511 ETH reference price, those staked tokens were valued at about $12.7 billion.
That means roughly 86% of BitMine’s Ethereum holdings are currently deployed to help validate the network rather than held in a liquid treasury wallet. Staking involves locking ETH with validators that process transactions and secure Ethereum, in return for protocol rewards.
BitMine reported a 2.63% seven-day staking yield expressed on an annualized basis. Using that yield and assuming its entire Ethereum reserve becomes staked through its validator infrastructure and external partners, the company projected annualized ETH staking rewards of about $390 million.
The company separately put projected annualized staking revenue at $335 million. The difference between rewards and revenue was not explained in the update, but the figures show that BitMine is framing the ETH reserve as an income-producing operating asset rather than solely a directional cryptocurrency holding.
At the stated ETH price, an annualized 2.63% return on the currently staked 5.07 million ETH would produce a substantial stream of ETH-denominated rewards. The dollar value of those rewards, though, will move with Ethereum’s market price and with changes in validator returns.
MAVAN platform underpins the staking strategy
BitMine said a portion of its ETH is staked through MAVAN, its institutional validation operation. MAVAN stands for Made in America VAlidator Network.
The validator platform gives BitMine a route to stake an unusually large treasury position while retaining an operational role in the Ethereum ecosystem. Large staking allocations also introduce practical constraints: validators must maintain reliable infrastructure, and substantial unstaking requests are subject to Ethereum’s validator exit and withdrawal processes.
The company’s current allocation leaves about 833,803 ETH outside its reported staked balance. That portion may offer BitMine additional flexibility for liquidity, new validator deployments, collateral arrangements, or future purchases, though the company did not specify how the remaining tokens are held or intended to be used.
Alongside Ethereum, BitMine reported holding 211 Bitcoin and $541 million in cash and marketable securities. It did not provide a Bitcoin valuation in the supplied update, but the cash and securities reserve offers the company a source of liquidity separate from its digital-asset holdings.
Treasury model expands beyond crypto assets
BitMine’s balance sheet also includes what it calls “moonshot” positions outside its core ETH strategy. The company reported a $180 million stake in Beast Industries and an $81 million position in Eightco Holdings, the Nasdaq-listed company trading under the ticker ORBS.
BitMine described Eightco as one of the few publicly traded equities offering indirect exposure to OpenAI. Such positions give the company additional exposure to private-market and technology themes, but they also make its reported $15.6 billion total more complex than a straightforward Ethereum treasury calculation.
The dominant driver remains ETH. At the company’s stated price, Ethereum represents roughly 95% of the reported total value before accounting for how other positions are valued. That concentration means BitMine’s balance sheet, staking income and market perception remain closely tied to movements in Ethereum.
The company’s purchase of 53,501 ETH over one week is relatively modest beside its existing reserve, but it continues a sustained accumulation program that has run for more than a year. Repeated buying also steadily raises the amount of ETH that BitMine can potentially stake, reinforcing the link between its treasury expansion and projected reward income.
Stock liquidity and index inclusion
BitMine said it joined the Russell 1000 large-cap index on June 26, 2026. Inclusion in the index can bring the stock into the portfolios of funds designed to track Russell benchmarks, although it does not alter the company’s underlying exposure to ETH.
The company’s Series A Preferred Stock trades on the New York Stock Exchange under the symbol BMNP.
Fundstrat data cited by BitMine placed the company’s five-day average daily dollar trading volume at $1.36 billion as of Aug. 29. That ranked BitMine No. 62 among 5,704 U.S.-listed stocks, between Texas Instruments at No. 61 and UnitedHealth Group at No. 63, according to the cited figures.
BitMine also said ETH had been the strongest-performing macro asset in the third quarter through the prior Friday, outperforming the S&P 500 by 5,430 basis points. It listed ETH, Bitcoin and Solana as the three best-performing assets since June 30.
Those market comparisons provide the backdrop for BitMine’s strategy: the company is combining a large ETH reserve with a high staking allocation designed to generate recurring token rewards. With nearly one in every 20 ETH in circulation represented in its disclosed holdings, its treasury decisions now carry more weight than those of a typical publicly traded cryptocurrency holder.
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