Bitmine Immersion Technologies said it purchased 42,197 ETH over the past week, bringing its total Ethereum treasury to 5,742,237 ETH as of July 5. The company said that position now represents about 4.8% of Ethereum’s circulating supply. Across crypto, cash, securities, and other investments, Bitmine reported total holdings of $11.1 billion.
The latest purchase extended the company’s accumulation push in Ethereum. Bitmine said it also holds 206 Bitcoin, along with $527 million in cash and marketable securities. Other balance sheet assets include a $180 million stake in Beast Industries and a $71 million investment in Eightco Holdings.
Most of the Ethereum position is now staked
According to the company, 4,879,157 ETH is currently staked. Using a price of $1,800 per ETH, Bitmine valued that stake at roughly $8.8 billion. It said the staked amount equals about 85% of its total Ethereum holdings. A large share of that activity runs through MAVAN, the institutional staking platform Bitmine launched earlier this year.
MAVAN was first built for Bitmine’s own treasury operations and was later opened to institutional clients and ecosystem partners. Chairman Thomas “Tom” Lee said Bitmine has kept a steady pace of Ethereum purchases through 2026. He also said the company expects to reach what it calls the “alchemy of 5%” during the year.
Lee points to legislation odds and index inclusion
Lee also highlighted two developments outside the company’s treasury data. One was improving market expectations around the CLARITY Act. He said prediction markets recently placed the odds of passage at about 50%, the highest reading in two weeks. The other was Bitmine’s inclusion in the Russell 1000 Index after the annual reconstitution on June 26.
Bitmine also said it completed a preferred stock offering in June, generating about $273.8 million in net proceeds to support broader operations. Separately, Lee said the company’s staking activity produced a 2.68% annualized seven-day yield.