BitMine Just Locked Up Most of Its $11B Ethereum Stash — What That Signals for ETH Holders
BitMine staked as much as 87% of its 5.8M ETH treasury, betting big on Ethereum's future while banking hundreds of millions in staking rewards.
BitMine Immersion Technologies, the Nasdaq-listed company that has quietly become one of the biggest corporate holders of Ethereum on the planet, just put most of its ETH to work. The firm disclosed that it has staked somewhere between 85% and 87.4% of its entire Ethereum treasury, according to figures from BeInCrypto and Blockonomi, a move that shows just how confident this company is in Ethereum’s long-term future.
For everyday holders, this is worth paying attention to. When a company locks up nearly its whole stash instead of just sitting on it or trading it, that’s a strong signal it isn’t planning to sell anytime soon — and it’s choosing to earn a yield on the coins instead.
A treasury bigger than some countries’ crypto reserves
As of August 2, BitMine reported total holdings worth $11.3 billion, spanning cryptocurrency, cash, securities and equity stakes. The centerpiece is 5,797,813 ETH — worth roughly $10.9 billion at a $1,880 ETH price — which equals about 4.8% of all the Ether currently in circulation, per Blockonomi.
The company has been buying ETH on the open market every week since it launched the strategy on June 30, 2025, adding another 10,399 ETH in its most recent buying round. Alongside the Ethereum, BitMine holds 209 Bitcoin, $173 million in cash and securities, plus equity stakes worth $180 million in Beast Industries and $61 million in Eightco Holdings — smaller bets the company calls “speculative growth investments.”
Why staking matters here
Staking is essentially locking up your ETH to help secure the Ethereum network, in exchange for a reward — similar to earning interest on a savings deposit, except the “bank” here is the blockchain itself. BeInCrypto reported that BitMine staked an additional 150,120 ETH recently, pushing its staked share to 87.4% of holdings. Blockonomi’s numbers, based on the same August 2 disclosure, put the staked total at 4,917,189 ETH, or around 85% of the treasury — so the exact figure sits somewhere in that 85-87% range depending on the source.
Either way, that’s the vast majority of a multi-billion-dollar stash sitting in staking contracts rather than sitting idle or available for a quick sale. BitMine says its staked ETH is currently earning a seven-day annualized yield of 2.67%, which translates into a projected $247 million in yearly staking income. If the company eventually stakes everything through its MAVAN platform and partner services, that number could climb to $291 million, Blockonomi reported.
Buybacks and what it means for your bags
BitMine is also buying back its own stock. The company repurchased 4.5 million shares in the most recent week alone, bringing its total buybacks since the start of July to 16.1 million shares, under a $4 billion authorization. BMNR stock traded around $17.24 following the disclosure, roughly flat on the day.
For regular ETH holders, none of this changes the coin’s price overnight, but it does add to a growing pattern: large, publicly traded companies are increasingly treating Ethereum less like a trading chip and more like a productive, long-term asset that earns yield. Bitmine noted that in July, Ethereum’s returns outpaced the Nasdaq 100 by 25 percentage points — a comparison the firm was careful to call historical context rather than a prediction. Still, when institutions this size choose to stake rather than sell, it’s a reminder that conviction in Ethereum’s future is showing up not just in words, but in billions of dollars of locked-up coins.
Read more: ETH ETFs Quietly Beat Bitcoin ETFs in July — Here’s Why That Matters to You
