Bitmine Immersion Technologies added 7,391 ETH to its treasury over the past week, bringing its Ethereum holdings to 5,805,238 tokens, or about 4.8% of the roughly 120.7 million ETH supply. Combined with its Bitcoin, preferred-stock proceeds, and equity stakes in Beast Industries and Eightco Holdings, Bitmine’s total crypto, cash, and “moonshot” holdings reached $11.6 billion as of August 9, up from $11.3 billion a week earlier.
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BitMine provided its latest holdings update for August 10, 2026$11.6 billion in total crypto + “moonshots”:
– 5,805,238 ETH at $1,928 per ETH per ETH (per @coinbase)
– 209 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $69 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) August 10, 2026
Bitmine Highlights Fed as CLARITY Fades
That tracking put hike odds near 57% to 62% as of August 4, sliding toward the low 40s by August 7 after a weaker-than-expected July jobs report. A separate derivatives-based estimate put the September hike probability at 56.9% on August 4. None of the ranges checked show a pre-report figure as high as 75% in early August.
| Two weeks before Aug. 9 | As of Aug. 9 | |
|---|---|---|
| Bitmine’s stated Fed hike odds | 75% | <40% |
| Independently tracked range | 75%; trending in the mid-50s to mid-60s through late July | ~40-43% |
“the highest odds in two weeks.”
This week, with those odds falling instead of rising, the release reaches for the Fed number, keeping the tailwind framing intact without addressing why the bill Lee has previously called the more direct catalyst just lost months of momentum.
The Numbers Behind the Framing
Beyond the framing, the disclosure itself is straightforward. BitMine’s latest 8-K form details the company’s August 10 holdings update, which follows its August 3 purchase of 10,399 ETH, which expanded its crypto treasury to $11.3 billion. Bitmine has since staked 5,067,309 ETH through MAVAN, its own validator network, worth $9.8 billion at the $1,928-per-ETH price used in the release and representing 87% of total holdings. At a 2.63% seven-day annualized yield, the company says the staked position is generating $257 million a year at the current pace, rising to a projected $294 million.
The buyback moved faster than the ETH purchase did. Bitmine repurchased 3.0 million shares over the week, bringing cumulative repurchases since July 1 to 19.1 million shares against its $4 billion authorization. That continues a recent pattern in which the buyback, not new ETH, has been the larger use of capital, a shift Lee has attributed to management viewing the shares as undervalued rather than to any reduced conviction on ETH itself.
| Date | ETH Holdings | Total Assets |
|---|---|---|
| Jul 12 | 5,770,038 | $11.3B |
| Jul 19 | 5,777,468 | $11.5B |
| Jul 26 | 5,787,414 | $11.8B |
| Aug 2 | 5,797,813 | $11.3B |
| Aug 9 | 5,805,238 | $11.6B |
How Bitmine Got Here
Bitmine’s Ethereum treasury dates to a June 2025 pivot away from Bitcoin-mining infrastructure, funded initially by a $250 million private placement and branded by Lee as the “Alchemy of 5%,” a target of holding 5% of ETH’s total supply. Fourteen months later, the company says it’s reached 96% of that goal. The strategy has weathered at least one steep drawdown along the way; as of early June, Bitmine’s average ETH acquisition cost was estimated near $3,476 per token, more than $1,500 above Monday’s reference price.
- June 2025: Pivots from Bitcoin-mining infrastructure to an Ethereum treasury, funded by a $250M private placement; launches “Alchemy of 5%.”
- February 2026: Weathers a steep unrealized-loss period during a broader crypto selloff; continues accumulating.
- April 2026: Uplists to NYSE; crosses 5 million ETH.
- June 2026: Closes Series A Preferred Stock offering (NYSE: BMNP); added to Russell 1000 Large-cap index.
- August 2026: Reaches 96% of “Alchemy of 5%” target; buyback pace outpaces new ETH purchases.
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