Bitmine Immersion Technologies has made its largest single ETH purchase since June 30, 2025, acquiring 53,501 Ethereum tokens worth $131 million in the latest transaction. This purchase brings the company's total holdings to 5,901,112 ETH, valued at approximately ₹14.8 billion at the company's stated price of $2,511. The acquisition represents 4.9% of Ethereum's entire circulating supply, putting Bitmine 98% of the way toward its self-described "Alchemy of 5%" target of 5% ETH ownership. As per Chairman Tom Lee, this purchase extends an unbroken streak of 65 consecutive weeks of ETH buying since launching the treasury strategy on June 30, 2025. Lee reports that Ethereum has outpaced the S&P 500 by 5,430 basis points this quarter alone, highlighting the cryptocurrency's strong institutional appeal.
Bitmine's total holdings have reached ₹15.6 billion, up from ₹14.9 billion one week earlier, according to the company's latest disclosure. The additional ETH accounts for only about $134 million of that increase, with the remaining growth driven by $233 million rise in cash and marketable securities. The company also holds 211 Bitcoin, $541 million in cash and marketable securities, and investments in Beast Industries and Eightco. Bitmine's ETH was worth approximately $14.8 billion according to the company's stated price of $2,511. Despite this significant accumulation, BMNR stock fell as much as 2.6% in pre-market trading and was among the top trending tickers on Stocktwits.
Bitmine has placed 5.07 million ETH, around 86% of its treasury, in staking programmes, estimating that this could generate approximately $335 million in annualized revenue. The amount staked changed little from the previous week, with the estimated revenue increasing slightly due to changes in stated yield and ETH price. Ethereum has experienced a significant price surge, climbing from near $1,900 to approximately $2,500, representing a 30% increase in the past 30 days. According to reports from AMBCrypto, this rally has not prompted the typical exit behavior from validators, with the network's exit queue hitting zero and indicating that validators are not rushing to unlock their staked ETH despite the substantial price appreciation. The company's staked ETH is worth approximately $12.49 billion at current prices, with around 833,803 ETH remaining outside the reported staked balance.
Ethereum currently has 902,506 active validators with approximately 42.4 million ETH staked, representing 34.8% of the total supply. This staking activity continues even after Ethereum witnessed a 70% pump, suggesting that validators are expecting further appreciation rather than taking profits. According to AMBCrypto, Ethereum's validator base has shown strong expansion in August 2026, with the number of active validators rising from approximately 887,000 at the start of the month to over 902,000 by late August. The entry wait time has also improved, falling from around 43-44 days to roughly 36 days, indicating that the large staking backlog is gradually clearing. Bitmine launched MAVAN, short for Made in America Validator Network, in 2026 as its institutional Ethereum staking operation, with part of the company's balance already deployed through MAVAN while partner validators handle another portion.
Bitmine Chairman Tom Lee expects institutional demand for crypto to strengthen during the final months of 2026, with predictions that tokenization and artificial-intelligence applications would increase Ethereum's use. The company has maintained its consistent acquisition strategy, purchasing ETH during each of the 65 weeks since launching its treasury strategy in June 2025. While Ethereum staking participation remains strong, Solana maintains a higher staking participation rate at roughly 68.3% of its supply, with around 421.8 million SOL staked and yields of approximately 5.75%-6.5%. However, Solana's total dollar value staked remains much lower than Ethereum's, highlighting the relative scale of Ethereum's staking ecosystem. For U.S. investors, exposure is available through BitMine's NYSE-listed common stock under the ticker BMNR, as well as its BMNP preferred shares, with the company describing itself as the largest reported corporate Ethereum treasury.
