Key Takeaways
- • Bitmine Immersion Technologies holds 5.79 million ETH tokens representing 4.8% of total ETH supply (120.7 million tokens), achieving 96% progress toward its stated "Alchemy of 5%" acquisition goal in 13 months.
- • Total crypto and cash holdings reach $11.8 billion, comprising 5.79 million ETH tokens, $268 million in cash and marketable securities, and other crypto holdings including a $61 million stake in Eightco (NASDAQ: ORBS), which provides exposure to OpenAI.
- • Bitmine operates 4.92 million staked ETH worth $9.6 billion through its MAVAN (Made in America Validator Network), projecting annualized staking revenues of $254 million.
- • The company executed a $6.1 million share repurchase in the past week under a previously authorized $4 billion stock buyback program, and was added to the Russell 1000 Large-cap index on June 26, 2026.
- • Bitmine's Series A Preferred Stock trades on NYSE under ticker BMNP, supported by institutional backers including Cathie Wood (ARK), Founders Fund, Pantera Capital, Galaxy Digital, and individual investor Thomas Lee.
Summary
Bitmine Immersion Technologies announced on July 27, 2026 that its Ethereum holdings have reached 5.79 million tokens, positioning the company as a significant holder of the network with 4.8% of total ETH supply. This achievement represents 96% progress toward the company's publicly stated goal of accumulating 5% of Ethereum's circulating supply—a milestone the firm has branded the "Alchemy of 5%." The company accomplished this accumulation target in approximately 13 months, demonstrating sustained execution at elevated purchasing levels as ETH prices remained depressed relative to key support levels.
Total combined holdings—including crypto, cash, marketable securities, and what Bitmine terms "moonshots"—reached $11.8 billion. The portfolio composition breaks down to 5.79 million ETH tokens as the core holding, supplemented by $268 million in cash and marketable securities. Additionally, Bitmine holds a $61 million equity stake in Eightco (NASDAQ: ORBS), positioning investors with indirect exposure to OpenAI through one of the limited publicly traded vehicles offering such access.
Bitmine operates a significant Ethereum staking operation through its MAVAN (Made in America Validator Network), currently managing 4.92 million staked ETH valued at $9.6 billion at the time of announcement. The company has projected annualized staking revenues of $254 million from this validator infrastructure, which is described as a premier Ethereum staking destination for both the firm and institutional investors.
The company executed a $6.1 million share repurchase during the week preceding the announcement, operating under a previously authorized $4 billion capital allocation program for stock buybacks. Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, reflecting its market capitalization milestone. The company's Series A Preferred Stock trades on the New York Stock Exchange under the symbol BMNP.
Bitmine maintains backing from prominent institutional investors and industry figures, including Cathie Wood (ARK Invest), Founders Fund, Pantera Capital, Galaxy Digital, DCG, Kraken, and individual investor Thomas Lee, who serves as chairman. This investor coalition has explicitly supported the firm's objective of acquiring 5% of Ethereum's total supply.
Total combined holdings—including crypto, cash, marketable securities, and what Bitmine terms "moonshots"—reached $11.8 billion. The portfolio composition breaks down to 5.79 million ETH tokens as the core holding, supplemented by $268 million in cash and marketable securities. Additionally, Bitmine holds a $61 million equity stake in Eightco (NASDAQ: ORBS), positioning investors with indirect exposure to OpenAI through one of the limited publicly traded vehicles offering such access.
Bitmine operates a significant Ethereum staking operation through its MAVAN (Made in America Validator Network), currently managing 4.92 million staked ETH valued at $9.6 billion at the time of announcement. The company has projected annualized staking revenues of $254 million from this validator infrastructure, which is described as a premier Ethereum staking destination for both the firm and institutional investors.
The company executed a $6.1 million share repurchase during the week preceding the announcement, operating under a previously authorized $4 billion capital allocation program for stock buybacks. Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, reflecting its market capitalization milestone. The company's Series A Preferred Stock trades on the New York Stock Exchange under the symbol BMNP.
Bitmine maintains backing from prominent institutional investors and industry figures, including Cathie Wood (ARK Invest), Founders Fund, Pantera Capital, Galaxy Digital, DCG, Kraken, and individual investor Thomas Lee, who serves as chairman. This investor coalition has explicitly supported the firm's objective of acquiring 5% of Ethereum's total supply.
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