Bitmine Immersion Technologies disclosed that its Ethereum (ETH) holdings have reached 4.976 million tokens. Combined with cash, total crypto and cash assets stand at $12.9 billion.
Holdings Cross 4% of Circulating Supply
The 4.976 million ETH figure represents more than 4% of the total circulating supply of 120.7 million tokens.
Bitmine has also staked 61,232 ETH from its existing holdings. The staking move generates yield on a portion of the treasury while keeping the underlying position intact.
The company's stock, BMNR, ranked as the 80th most traded equity in the United States over a five-day average, with approximately $1.2 billion changing hands daily.
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The Alchemy of Ethereum Benchmark
Bitmine's filings reference a benchmark the company calls the "Alchemy of Ethereum" standard. According to the PR wire, the company has covered 82% of the distance toward this threshold in nine months. The company has not publicly defined the precise ETH quantity required to reach that level.
Investors listed in the Eightco Holdings filing include Bitmine itself alongside MOZAYYX, World Foundation, and Wedbush, suggesting cross-portfolio coordination among multiple ETH-accumulating entities.
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Background
Bitmine's ETH treasury strategy is modeled on the pattern established by Strategy (formerly MicroStrategy) for Bitcoin (BTC).
Strategy disclosed a $2.5 billion BTC purchase earlier this month, keeping the corporate treasury accumulation narrative active across both major assets. Bitmine began building its ETH position roughly nine months ago and has accelerated purchases in recent weeks, using both direct buys and staking to grow and activate the treasury.
The company is separately a backer of Eightco Holdings, which reported $336 million in total assets. That figure includes more than 11,000 ETH, $90 million in OpenAI exposure, $25 million tied to MrBeast, and over $283 million in Worldcoin (WLD) tokens.
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