BitMine Immersion Technologies added 111,942 ETH (about $237 million) to bring its treasury to 5,390,404 ETH worth $11.4 billion, representing 4.4% of circulating supply and targeting 5% in 2026. The firm stakes 4.7 million ETH via its MAVAN platform for projected $276 million in annualized revenue.
BitMine Immersion Technologies purchased 111,942 ETH (approximately $237 million), raising its total holdings to 5,390,404 ETH valued at $11.4 billion and representing 4.4% of the circulating supply.
The firm has staked over 4.7 million ETH on its MAVAN industrial platform, which underlies projected annualized staking revenues of more than $276 million.
BitMine reduced cash reserves by 61% to repurchase $1.5 billion of debt, reflecting a strategic shift toward capital return and balance sheet optimization.
Shares gained 3.3% post-announcement despite year-to-date declines, and BitMine anticipates added liquidity when it joins the Russell 1000 index next month.
