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ETH Highlights
Bitmine increased its Ethereum reserves to 5.77 million ETH, thereby controlling approximately 4.8% of the circulation supply of the cryptocurrency.
Among them, more than 4.92 million ETH have been pledged, and the annual pledge revenue is expected to reach approximately US$284 million after full operation.
According to Chairman Tom Lee, growing consumer use of Ethereum supports the company's long-term accumulation strategy.
Bitmine increased its holdings of Ethereum to 5.77 million units, approaching its 5% target
Bitmine Immersion Technologies increased its Ethereum reserves to 5.77 million ETH units, further approaching its goal of controlling the circulation supply of the cryptocurrency by 5%. This latest purchase gives the company approximately 4.8% of Ethereum, making it the largest corporate owner of the asset.
Based on an ETH price of US$1,820, Bitmine's Ethereum reserves are worth approximately US$10.5 billion. In addition, Bitmine remains the second largest holder of overall corporate cryptocurrency reserves, behind Strategy's Bitcoin holdings.
The latest disclosure shows that Bitmine has added 27,801 ETH units in the past week. So far, the company has achieved its publicly stated goal of holding 5% of Ethereum's approximately 120.7 million tokens in circulation-about 96% progress.
Tom Lee links Ethereum growth to consumer adoption
Bitmine Chairman Tom Lee said that as blockchain technology is adopted by more daily users, the company remains committed to expanding its Ethereum holdings. Lee pointed out that Robinhood Chain was launched on July 1, highlighting Ethereum's growing role in consumer finance applications. Lee mentioned that Robinhood's 27 million users pay blockchain transaction fees denominated in ETH. He added that the trend shows that more and more users are starting to view Ethereum as a practical digital currency rather than just an investment asset.
In addition to expanding its positions, Bitmine has also increased the proportion of Ethereum used to generate pledge rewards. The company disclosed that more than 85% of its reserves, or 4.92 million ETH pieces, have been actively pledged in its validator network. Bitmine reported a seven-day pledge yield of 2.70%. In addition, management expects annualized pledge revenue to be approximately US$242 million under current conditions. As its MAVAN verifier infrastructure reaches full operating capacity, this number could grow to approximately $284 million.
Ethereum reserves lead broader digital asset portfolio
Despite Bitmine's accumulation strategy, Ethereum is still under pressure. The asset was trading at about $1,766, down nearly 2% in the past 24 hours. Even so, Ethereum remains the second-largest cryptocurrency by market capitalisation, although its trading price is about 64% lower than its all-time high in August 2025.
In addition to Taifang, Bitmine disclosed that it also holds 206 bitcoins in its digital asset portfolio. The company also owns a $180 million stake in Beast Industries and a $69 million investment from Eightco Holdings.
In addition, Bitmine reported holding approximately US$482 million in cash and marketable securities. These assets provide additional liquidity while the company implements its long-term Ethereum reserve strategy.
Bitmine's latest purchase puts it just one step away from its 5% Ethereum holding target. At the same time, its large pledged positions and diversified balance sheet highlight its strategy of focusing on building long-term value while generating additional income from growing ETH reserves.
