Bitmine Immersion Nears 5% Ethereum Supply Milestone
Bitmine Immersion Technologies now holds 5.93 million Ethereum tokens, bringing the firm within reach of its stated goal to control 5% of the total supply. The company reported its combined crypto, cash, and venture holdings reached a valuation of $15.7 billion as of September 7, 2026.
The Norwalk-based firm, which operates under the ticker BMNR, currently holds 4.9% of the 122 million Ethereum tokens in circulation. This accumulation is part of an ongoing treasury strategy that has seen the company acquire digital assets weekly since mid-2025. In addition to its primary Ethereum holdings, the company maintains $593 million in cash and marketable securities, alongside strategic stakes in Eightco Holdings and Beast Industries.
Chairman Thomas Lee attributed the recent performance of the company’s stock—which has gained 99% this quarter—to the broader strength of crypto-related equities within the Russell 1000. Bitmine has also leveraged its position to launch MAVAN, an institutional-grade staking platform that currently manages over 5 million of the company's own Ethereum tokens. With the upcoming CLARITY Act vote and shifts in global investor sentiment, management expects institutional participation in the digital asset space to accelerate through the end of 2026.
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