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Bitmine (BMNR) shares surge 8%: Ethereum holds 5.85 million units after purchasing 32,447 ETH units

2026-08-25 00:51:36

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TLDR

Bitmine recently increased its holdings of Ethereum (ETH), bringing its total positions to 5.847 million, approaching the target of 5% of Ethereum's total supply. The company also achieved considerable gains by pledging approximately 87% of its position in Ethereum. Its share price also rose 8%.

Ethereum Pledge Supports Bitmine Treasury Strategy

Bitmine Immersion Technologies (BMNR) shares rose 8.26% to close at $24.72. Earlier, the company announced another significant expansion of its Ethereum treasury. Last week, Bitmine increased its holdings of 32,447 ETH positions, bringing its total Ethereum holdings to 5,847,611. This increase brings Bitmine closer to its goal of controlling 5% of Ethereum's circulating supply.

As of August 23, Bitmine's total value of crypto assets, cash, marketable securities and strategic positions was approximately US$14.9 billion. Its portfolio also includes 210 bitcoins,$308 million in cash and securities, and two strategic equity: a $180 million investment in Beast Industries and a $89 million investment in Eightco Holdings.

Currently, the company controls 4.8% of Ethereum's approximately 120.7 million token supply. To reach the 5% threshold, approximately 6.04 million ETH units are needed at current supply. As a result, Bitmine is still about 187,000 ETH short of its long-term accumulation target.

Pledge scale continues to expand

Bitmine has also increased the number of Ethereum used for pledge through its treasury operations and pledge partners. The company reported that it pledged 5,067,309 ETH items, accounting for approximately 87% of its total Ethereum position. Based on the published ETH reference price, the value of this pledged position is close to US$12.4 billion.

Bitmine launched the "Made in America Verifier Network" in early 2026 to support the institutional-grade Ethereum pledge infrastructure. The platform currently handles some of the company's treasury assets and may provide services to external institutions in the future. This strategy connects Bitmine's Ethereum accumulation plan to recurring pledge revenue generated by its large treasury.

Based on its current pledge balance and announced yields, the company expects annualized pledge revenue to be close to US$330 million. Bitmine also estimates that after pledging all of its Ethereum treasury, annualized rewards could reach US$381 million. The company reported an annualized rate of return on its 7-day pledge of 2.67%.

Bitcoin positions expand crypto treasury exposure

Bitcoin remains a smaller part of Bitmine's treasury, and the company holds 210 BTC in addition to its huge Ethereum position. This structure reflects Bitmine's decision to position Ethereum as the core asset of its treasury strategy. At the same time, Bitcoin still allows the company to gain exposure to the broader cryptocurrency market environment and liquidity trends.

In terms of the total value of digital assets, Bitmine ranks second only to Strategy among the major public crypto treasuries. Strategy reportedly holds 840,447 bitcoins and is the world's largest corporate bitcoin treasury. At the same time, Bitmine occupies a leading position in the public Ethereum treasury category thanks to its large ETH position.

This latest update comes as Ethereum has experienced a strong week, with prices rising by about 30%, boosting the value of Bitmine's treasury. Management attributed the increase to strengthening crypto fundamentals, growth in tokenization, demand for artificial intelligence and improving financial conditions. Bitmine has been buying Ethereum every week since launching its treasury strategy on June 30, 2025.

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