Bitmine Immersion Nears 5% of Ethereum Supply with 5.74 M ETH Holdings

Bitmine Immersion Technologies reported that its Ethereum treasury now contains 5,742,237 ETH, roughly 4.8% of the 120.7 million ETH circulating supply and bringing the company within a fraction of its 5% “Alchemy” target. The purchase of an additional 42,197 ETH in the last week pushed the plan to 95% completion, with only about 0.2 percentage points of supply left to acquire. Total crypto, cash and marketable‑securities assets are valued at $11.1 billion, making Bitmine one of the largest corporate holders of Ethereum. About 4.88 million ETH are staked through its U.S. validator network MAV AN, generating an estimated $235‑$277 million of annual passive income. The company holds no debt; dividends and operating costs are covered by staking yields despite an unrealized paper loss of $9‑$10 billion due to the recent drop in ETH price. Bitmine’s chairman, Tom Lee, linked the accumulation strategy to expectations that the U.S. “Clarity Act” will grant Ethereum clearer regulatory status. The firm was added to the Russell 1000 Large‑Cap index in June, and its stock rose over 4% on the news.