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BitMine Rises 13% After Ethereum Treasury Update

Investors are reacting to the rapid buildup of ETH reserves, a large buyback program, and rising staking revenue. That puts BitMine closer to its goal of owning 5% of Ethereum's supply.

By Finst News
• 2 min read
BitMine Rises 13% After Ethereum Treasury Update

Key Takeaways

  • BitMine rose 13% on Monday after an update on its Ethereum treasury, making it the top performer on Wall Street.
  • The company holds 5.79 million ETH, equal to 4.8% of Ethereum's circulating supply, and is getting close to its 5% target.
  • BitMine bought back 6.1 million shares last week and expects $254 million in annual staking revenue, which could rise to $299 million.

BitMine Immersion Technologies climbed 13% on Monday after releasing a fresh update on its treasury holdings. The move made it the day’s biggest gainer on Wall Street, with investors focusing on the company’s ETH balance, its buyback activity, and growing staking revenue.

ETH Holdings Near the Target

The company said it now holds 5.79 million ETH, which works out to 4.8% of Ethereum's circulating supply of 120.7 million tokens. That leaves BitMine just shy of its 5% goal, a target it first laid out 13 months ago.

The strategy reflects BitMine's broader pivot under chairman Tom Lee, as the company has leaned more heavily into Ethereum over the past several months. It also reported $11.8 billion (€10.4 billion) in crypto, cash, and equity stakes, which the update said should help reinforce confidence in the balance sheet.

Buybacks and Staking

Last week, BitMine repurchased 6.1 million shares, following 5.5 million shares bought back the week before. Since July 1, that brings the total to 11.6 million shares under its $4 billion (€3.5 billion) buyback program, which the company announced at its NYSE debut in April.

Lee said BitMine has been buying ETH every week since the ETH Treasury Strategy began on June 30, 2025. The company also operates MAVAN, its Ethereum staking network, which has now staked 4.9 million ETH. BitMine is projecting $254 million (€223 million) in annual staking revenue, with that figure potentially rising to $299 million (€263 million) if its entire ETH position is staked.

Why This Matters

For European crypto readers, the update is another sign that public companies are increasingly treating Ethereum as a treasury asset, not just a trading bet. That could shape how similar crypto firms are valued and how institutional demand for ETH is measured. Backing from firms like ARK Invest, Pantera Capital, and Galaxy Digital also shows this is no longer just a retail-driven story.

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