Bitmine Immersion Technologies expanded its Ethereum treasury for another consecutive week, adding 7,430 ETH and increasing its total holdings to 5,777,468 ETH, while combined cryptocurrency, cash, and strategic investments reached $11.5 billion. The latest disclosure reinforces the company’s position as the largest publicly known corporate Ethereum treasury and comes as it continues pursuing its stated goal of accumulating 5% of Ethereum’s circulating supply.
The company said its Ethereum holdings represented approximately 4.8% of Ethereum’s circulating supply of 120.7 million ETH as of July 19. Based on Coinbase pricing referenced in the disclosure, the ETH position was valued using an ETH price of $1,879 per token.
Unlike previous weeks, Bitmine’s latest accumulation was smaller. Company chairman Tom Lee attributed the slower pace to capital being allocated toward share repurchases rather than additional Ethereum purchases. According to the announcement, Bitmine bought back roughly 5.5 million common shares under its previously authorized $4 billion share repurchase program.
Treasury strategy shifts focus between ETH purchases and buybacks
The latest update highlights that Bitmine continues to balance two capital allocation priorities:
- Purchased 7,430 ETH during the past week.
- Repurchased about 5.5 million common shares.
- Reported 5,777,468 ETH in total holdings.
- Total crypto, cash and marketable securities reached $11.5 billion.
- Holds roughly 4.8% of Ethereum’s circulating supply.
The company said it has acquired Ethereum every week since launching its ETH treasury strategy in June 2025, although this week’s purchase was among its smallest additions in recent months. Recent disclosures had shown weekly acquisitions exceeding 20,000 ETH before the latest slowdown.
On July 13, 2026, Bitmine reported purchasing 27,801 ETH, increasing its total Ethereum holdings to 5.77 million ETH. That larger acquisition contrasts with this week’s addition of 7,430 ETH, reflecting the company’s decision to allocate more capital toward share repurchases while continuing to expand its Ethereum treasury.
Staking remains a major contributor to treasury economics
Beyond accumulating ETH, Bitmine continues expanding its staking operations through its MAVAN (Made in America Validator Network) platform.
According to the company:
- 4,917,189 ETH are currently staked.
- The staked position is valued at roughly $9.2 billion using the reported ETH price.
- Around 85% of Bitmine’s ETH treasury is now generating staking rewards.
- Annualized staking revenue is projected at approximately $247 million based on recent network yields.
While those projections depend on Ethereum staking yields and market prices remaining relatively stable, the figures illustrate that staking has become a significant component of the company’s treasury strategy rather than simply holding digital assets.
Treasury also includes cash, Bitcoin and strategic equity investments
Bitmine’s reported assets extend beyond Ethereum. Its balance sheet includes 207 BTC, approximately $385 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $58 million stake in Eightco Holdings, alongside its Ethereum holdings.
The company also noted that it joined the Russell 1000 Index in June and that its Series A preferred shares trade on the New York Stock Exchange under the ticker BMNP.
Growing corporate ETH ownership continues to draw attention
During the July 13–19, 2026 week, Bitmine continued expanding its Ethereum treasury by purchasing an additional 7,430 ETH. In contrast, Michael Saylor’s Strategy made no Bitcoin purchases during the same period, instead allocating capital toward expanding its U.S. dollar reserves. The contrast highlights the growing divergence in corporate crypto treasury strategies, with Bitmine continuing to prioritize Ethereum accumulation while Strategy paused Bitcoin buying.
Bitmine’s latest disclosure arrives amid increasing institutional interest in Ethereum treasury strategies. Over the past several weeks, the company has steadily increased its ETH reserves while maintaining one of the largest publicly disclosed crypto treasuries outside of Strategy’s Bitcoin holdings.
As of 12:25 UTC, Ethereum traded at $1,875.25, up 5.44% over the previous seven days. The cryptocurrency’s market capitalization stood at approximately $226.31 billion, with a 24-hour trading volume of $9.74 billion, according to market data available at the time of publication.
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