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$ETH BitMine Immersion Technologies has expanded its Ethereum position once again. The company purchased 27,801 ETH during the latest reporting period, bringing its total holdings to 5,770,038 tokens, valued at approximately $10.5 billion at current prices .
Key Numbers and Holdings
The company's full balance sheet as of July 12, 2026, shows combined crypto, cash, and strategic investments totaling $11.3 billion . The holdings break down as follows:
· 5,770,038 ETH (approximately 4.8% of total circulating supply)
· 206 BTC
· $482 million in cash and marketable securities
· $180 million stake in Beast Industries
· $69 million stake in Eightco Holdings (NASDAQ: ORBS)
The 5% Goal
BitMine is 96% of the way toward its stated objective of owning 5% of all circulating ETH, a milestone the company calls the "Alchemy of 5%" . The company achieved this position in roughly 12 months, a pace Chairman Tom Lee has maintained as ETH trades below $2,000 .
Staking and Yield
Approximately 85% of Bitmine's ETH holdings (4,917,189 tokens) are staked through the company's MAVAN validator network and partner validators . The company reported a 2.70% seven-day annualized staking yield, with projected annualized staking revenue of $242 million under current conditions. At full operational scale, that figure is expected to reach $284 million .
The Transparency Issue
The announcement, distributed via PRNewswire, comes with a notable caveat: no on-chain verification, public wallet addresses, or auditor attestation have been provided . This lack of transparency has drawn skepticism, particularly for a holding of this size. The company, which primarily focuses on immersion cooling technology for mining, has not disclosed how it accumulated such a large position . The risk of a potential sell-off from such a concentrated holder remains a concern for traders, and the claim could attract regulatory attention if proven accurate .
Position in the Market
BitMine is now the largest corporate holder of ETH globally, with its treasury rivaling some of the largest exchange wallets . The company was also added to the Russell 1000 Large-cap Index on June 26 .