July 20, 2026, marked another key update for Bitmine Immersion Technologies, a major player in the Ethereum ecosystem. The company disclosed that it boosted its Ethereum holdings to 5.78 million ETH by adding 7,430 ETH over the past week, a sizeable chunk representing about 4.8% of Ethereum’s circulating supply of 120.7 million coins.

Bitmine’s decision to allocate capital between Ethereum acquisitions and a hefty $4 billion stock repurchase program shows a dual strategy of expanding asset holdings while supporting its equity market valuation.

The most recent week saw Bitmine repurchase roughly 5.5 million BMNR shares at an average price of $15.62, executed simultaneously with the latest Ethereum purchase. This indicates a significant shift in liquidity management, as the corporation balances crypto accumulation with shareholder value through buybacks.

The Ethereum treasury firm’s total crypto and cash portfolio is impressive: $11.5 billion in assorted assets including 207 Bitcoins, $385 million in cash and marketable securities, and sizable stakes in Beast Industries ($180 million) and Eightco Holdings ($58 million, trading under ORBS).

Bitmine has been methodically building its Ethereum holdings since June 30, 2025, demonstrating a long-term treasury strategy aligned with staking yields. Currently, 4.92 million ETH about 85% of the treasury is staked, producing an annualized yield of 2.67%. At $1,879 per ETH, this translates to an estimated $247 million in yearly staking revenue, with projections as high as $290 million after full staking through its MAVAN network and external partners.

This positions Bitmine as the largest disclosed Ethereum treasury and second only to Strategy, which holds 843,775 Bitcoins valued near $55 billion. Bitmine’s staking sophistication and capital deployment highlight the growing importance of integrated treasury management in crypto firms, merging asset accumulation with liquidity return strategies.

For investors, Bitmine’s buyback program suggests confidence in the company’s outlook while moderating supply pressures on BMNR shares. Meanwhile, its substantial Ethereum stake and high staking participation provide significant passive revenue, reinforcing its raw crypto exposure.

This material is for informational purposes only and is not financial advice.