BitMine Immersion Technologies reported total crypto, cash and moonshot holdings of $11.3 billion as of Aug. 2, down $500 million from the $11.8 billion reported one week earlier.
The decline came despite BitMine acquiring an additional 10,399 ETH over the week. The company attributed the drop to a lower mark on its Ether position, not asset sales.
BitMine valued its 5,797,813 ETH at $1,880 per token on Aug. 2, citing Coinbase data for the mark, placing the stack at roughly $10.9 billion. A week earlier, on July 27, the firm marked 5,787,414 ETH at $1,948 per token. The 3.5 percent decrease in the mark price accounted for the decline in reported assets.
The company's ETH holdings represent 4.8 percent of the 120.7 million ETH supply, consistent with its prior week's disclosure. Chairman Tom Lee said the company is 96 percent of the way to its "Alchemy of 5%" goal, which targets holding 5 percent of total ETH supply. BitMine initiated the treasury strategy on June 30, 2025, and has purchased ETH every week since.
Of the firm's total ETH, 4,917,189—or 85 percent—was actively staked as of Aug. 2, carrying a value of $9.2 billion at the $1,880 mark. BitMine projected annualized staking revenue of $247 million from that position, using a 2.67 percent seven-day annualized yield. The company expects that figure to rise to $291 million once its full ETH position is staked through its MAVAN platform and staking partners.
Lee said BitMine has staked more ETH than any other entity globally.
Beyond crypto, cash and marketable securities fell to $173 million from $268 million, a reduction the firm tied to its share repurchase program. BitMine bought back 4.5 million common shares during the week; total repurchases since July 1 reached 16.1 million shares under a $4 billion buyback authorization. Lee said management considers the shares attractively valued and described the buyback as the largest executed by any crypto digital asset treasury company.
Bitcoin holdings edged up to 209 BTC from 208 BTC. The company also reported a $180 million stake in Beast Industries and a $61 million stake in Eightco Holdings, classified as "moonshots."
BitMine characterized itself as the second-largest corporate crypto treasury, placing Strategy Inc. first with 843,775 BTC valued at roughly $57 billion—down from approximately $59 billion cited on July 27.
Lee said ETH outperformed the Nasdaq 100 by 25 percentage points in July, the widest such margin since July 2025.
All holdings, valuations and staking yields are BitMine's own disclosures, furnished to the U.S. Securities and Exchange Commission under Item 7.01, and have not been independently audited or verified.
