Bitmine Immersion Technologies Holds 4.8% of Ethereum Supply

Bitmine Immersion Technologies has solidified its position as the world's largest corporate holder of Ethereum, now controlling 4.8% of the cryptocurrency's total circulating supply. As of August 2, the publicly traded company held 5,797,813 ETH, valued at approximately $10.9 billion, following a weekly purchase of 10,399 ETH. The firm is nearing its stated goal of owning 5% of all Ethereum.

The company deepened its commitment on August 4 by staking an additional 150,120 ETH, worth roughly $278 million. This transaction brought its total staked Ethereum to 5,067,309 tokens, representing about 87.4% of its entire holdings. The staking operation runs through Bitmine's proprietary institutional platform, the Made in America Validator Network (MAVAN), which the company built to generate yield on its treasury.

Company Chairman Tom Lee has consistently framed the aggressive accumulation as a strategic, long-term wager on Ethereum's value and its role in digital finance. He linked the strategy to Ethereum's recent market performance, noting that in July, Ethereum outperformed the Nasdaq 100 index by 25 percentage points, marking its largest monthly outperformance since July 2025. Lee...