Bitmine Stock Rises 13% After $11.8 Billion Treasury Update

Bitmine Immersion Technologies (BMNR) shares rose 13% on Monday following a treasury update that confirmed $11.8 billion in crypto, cash, and equity holdings. The stock was the best-performing on Wall Street that day. The Ethereum-focused firm's holdings reassured investors as it approaches its 5% ETH accumulation target set 13 months ago.

Bitmine Holds 5.79 Million ETH Tokens

The company now holds 5.79 million ETH tokens, equal to 4.8% of Ethereum's 120.7 million circulating supply. Bitmine set a 5% accumulation target 13 months ago. Chairman Tom Lee stated the firm has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025. Lee framed the accumulation as a long-term commitment rather than opportunistic trading.

Bitmine Repurchased 6.1 Million Shares Last Week

Bitmine repurchased 6.1 million shares last week, up from 5.5 million the week before. Total repurchases reached 11.6 million shares since July 1 under a $4 billion buyback program. The company unveiled that program at its April NYSE main-board debut.

MAVAN Staking Network Projects $254 Million Annual Revenue

Bitmine runs MAVAN, its Ethereum staking network, which now holds 4.9 million staked ETH. The company projects $254 million in annualized staking revenue. That could reach $299 million once its entire ETH position is staked.

ARK Invest and Pantera Capital Back Bitmine Strategy

Backers including Cathie Wood's ARK Invest, Pantera Capital, and Galaxy Digital have supported Bitmine's strategy. BMNR now ranks among the most actively traded US stocks by dollar volume, according to Fundstrat data. Other Ethereum treasury firms, including SharpLink, continue building ETH positions.

FAQ

What did Bitmine announce on Monday? Bitmine Immersion Technologies announced a treasury update showing $11.8 billion in crypto, cash, and equity holdings. The company holds 5.79 million ETH tokens, representing 4.8% of Ethereum's circulating supply.

How many shares did Bitmine repurchase last week? Bitmine repurchased 6.1 million shares last week, bringing total repurchases to 11.6 million shares since July 1 under a $4 billion buyback program announced at its April NYSE debut.

What is Bitmine's projected staking revenue? Bitmine projects $254 million in annualized staking revenue from its MAVAN Ethereum staking network, which holds 4.9 million staked ETH. The projection could reach $299 million once the entire ETH position is staked.