Bitmine Expands Corporate Ethereum Treasury to 5.93 Million ETH

Bitmine Immersion Technologies (BMNR) held 5,929,198 ETH as of September 7, representing roughly 4.9% of the estimated 122 million circulating supply of Ethereum. The position was accumulated through continuous weekly purchases that began when the company adopted its treasury strategy in June 2025, including an addition of 28,086 ETH during the latest reported week. Bitmine's combined assets across crypto, cash, securities, and strategic holdings reached $15.7 billion, while BMNR shares traded at $24.99.

The firm has actively deployed its digital asset holdings into staking. Bitmine reported that 5,067,309 ETH—approximately 85% of its total ether portfolio—is staked, representing about $12.6 billion at a valuation price near $2,495 per ETH. Operating at a seven-day annualized staking yield of 2.61%, the program generates around $330 million in annualized revenue, with projections reaching up to $386 million under full infrastructure deployment.

Staking operations are facilitated through Bitmine's proprietary Made in America Validator Network (MAVAN), launched earlier in 2026. The company noted that Ethereum has outperformed the S&P 500 by 5,430 basis points through September 4, with management citing tokenization trends and network activity as long-term drivers of demand.