BitMine Says Crypto, Cash and Marketable Securities Holdings Reached $14.9 Billion

BitMine Immersion Technologies said its cryptocurrency, cash, marketable securities and other investments were worth $14.9 billion as of August 23 at 2:00 p.m. ET, up from $11.4 billion in its previous weekly update. The increase came as the company added more ether and the market price it used to value its Ethereum position rose sharply.

The company reported 5,847,611 ETH valued at $2,440 per token, 210 Bitcoin, a $180 million stake in Beast Industries, an $89 million stake in Eightco Holdings and $308 million of cash and marketable securities. BitMine said its ether position represented about 4.8% of an estimated 120.7 million ETH supply.

The $14.9 billion figure is a snapshot of the disclosed holdings at the company’s stated reference prices, rather than a measure of shareholder equity after liabilities. That distinction matters because Ethereum accounts for the overwhelming majority of the reported value and can change materially with the price of ETH.

Ethereum’s price drove most of the one-week increase

An August 24 operating update filed with the SEC shows that BitMine acquired 32,447 ETH during the week. Its ether holdings rose from 5,815,164 tokens on August 16 to 5,847,611 on August 23, an increase of about 0.6%.

The reference price used by BitMine moved much more. The August 17 update valued ETH at $1,893, while the latest filing used $2,440, an increase of about 28.9%. Applying the disclosed prices to the disclosed token counts, the stated value of the ether position rose from roughly $11.01 billion to about $14.27 billion, a gain of around $3.26 billion.

The difference between those two changes shows why the headline holdings total can move much faster than the number of tokens on BitMine’s books. The 32,447 ETH added during the week would be worth about $79 million at the August 23 reference price, but most of the increase in the ether position came from the higher valuation of coins the company already owned. BitMine did not disclose the average price paid for the new ETH, so the $79 million figure is a reference-value calculation, not the company’s acquisition cost.

Cash and marketable securities increased to $308 million from $78 million a week earlier, while the stated value of the Eightco stake rose to $89 million from $73 million. The Beast Industries stake remained at $180 million and the Bitcoin count stayed at 210. Even after those additions, Ethereum dominated the portfolio: the $14.27 billion reference value of the ETH position was roughly 96% of the company’s $14.9 billion reported total.

Chairman Thomas Lee said ETH gained 30% during the past week and argued that easing financial conditions, tokenization and increased blockchain use could support the asset. Those are management views, not guaranteed outcomes. BitMine’s own filing cautions that digital-asset prices are highly volatile and that historical price patterns may not repeat.

More than five million ETH is now staked

Of BitMine’s 5.85 million ETH, 5,067,309 tokens were staked as of August 23. At the company’s $2,440 reference price, that position was worth about $12.4 billion and represented roughly 87% of its total ether holdings.

Staking adds an income stream to the treasury strategy. BitMine reported a seven-day staking yield of 2.67% on an annualized basis and said current annualized staking revenue was projected at about $330 million. If its entire ETH position were staked at the same yield, the company estimated annualized rewards of about $381 million.

Those figures should be read as projections based on a short-period yield, not fixed returns. Ethereum staking rewards can change, and the company’s SEC disclosure identifies operational risks that include network failures, protocol changes, cybersecurity incidents and slashing events. The dollar value of staking income is also exposed to ETH price movements.

MAVAN, short for Made in America Validator Network, is BitMine’s own staking infrastructure. The company says the platform was initially developed for its treasury and is intended to expand to institutional investors, custodians and ecosystem partners. Its investor-relations page also lists the company’s weekly treasury updates and SEC filings.

With about 5.07 million of 5.85 million ETH already staked, changes in reward rates can affect the income BitMine expects from the same asset base even if the number of coins is unchanged. The staking economics therefore depend on more than the size of the treasury.

BitMine is nearing its stated 5% Ethereum target

Under its “Alchemy of 5%” strategy, BitMine aims to accumulate 5% of Ethereum’s total supply. Using the company’s 120.7 million supply estimate, a 5% position would equal about 6.035 million ETH. The August 23 balance of 5,847,611 ETH leaves a gap of roughly 187,000 tokens, putting the company at about 96.9% of that target, consistent with its rounded statement that it is 97% of the way there.

The company said it has bought ETH every week since launching the treasury strategy on June 30, 2025. Its latest acquisition of 32,447 ETH was larger than the 9,926 ETH added in the preceding week, but the latest jump in total holdings value demonstrates that the pace of purchases is only one part of the story. The market value of the existing ETH stockpile can have a much larger effect from one reporting date to the next.

A lower ETH price would have the opposite effect on the same concentrated treasury. The rise in ETH lifted BitMine’s reported holdings sharply this week, but a decline would reduce the marked value even without any sales. The company specifically lists the volatility and unpredictability of digital-asset prices among the risks to its strategy.

Cash and marketable securities of $308 million provide a more liquid non-crypto component, while the Beast Industries and Eightco stakes add equity exposure outside the core ETH position. At the August 23 snapshot, those holdings remained small relative to Ethereum. The company’s weekly total will therefore continue to be heavily influenced by the price applied to its ETH treasury as it moves closer to the 5% supply target.