BitMine Buys 42,197 ETH as Treasury Push Nears Target

BitMine’s latest Ethereum purchase lifts its holdings closer to the company’s goal of controlling 5% of the total ETH supply.

BitMine Immersion Technologies has purchased another 42,197 ETH, bringing its total Ethereum balance to 5,742,237 tokens as of July 5, 2026, according to the company’s latest corrected weekly update.

The firm valued the position at $1,800 per ETH. Including crypto, cash, marketable securities, and other investments, BitMine reported total holdings of $11.1 billion. Its ETH balance now represents 4.8% of Ethereum’s total supply of roughly 120.7 million tokens.

Latest Buy Extends BitMine’s ETH Accumulation Plan

The purchase is part of BitMine’s “Alchemy of 5%” strategy, which is designed to build a position equal to 5% of Ethereum’s supply. The company said it is now about 95% of the way toward that goal, roughly a year after launching the initiative.

Chairman Thomas “Tom” Lee said the firm bought 42,197 ETH over the past week, accelerating from the previous reporting period. The update suggests BitMine is still adding to its balance sheet despite recent volatility across the digital asset market.

The company also holds 206 BTC, $527 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $71 million position in Eightco Holdings. However, Ethereum remains the central asset in its treasury approach.

BitMine described itself as the largest Ethereum treasury company and the second-largest global crypto treasury, trailing only Strategy.

Staking Adds Another Layer to the Balance Sheet

BitMine is not only accumulating ETH but also deploying much of it through staking. As of July 5, the company had 4,879,157 ETH staked, equal to about 85% of its Ethereum balance.

Based on the firm’s reported ETH price, the staked position was worth approximately $8.8 billion. BitMine said its staking operations produced a 2.68% annualized seven-day yield, implying projected annualized revenue of $235 million.

The company is using MAVAN, its Made in America Validator Network, to support that activity. Initially built for BitMine’s own treasury, the platform is also expected to serve institutional investors, custodians, and ecosystem partners.

The next milestone is whether BitMine completes the final stretch toward its 5% supply target while maintaining its current staking pace.