Bitmine Immersion Technologies (NYSE: BMNR) announced on June 1, 2026 that its Ethereum treasury has reached 5,416,901 ETH, representing approximately 4.49% of the total 120.7 million ETH supply. Combined with other crypto assets, a stake in Eightco Holdings, and $446 million in cash, the company's total holdings stand at an estimated $11.6 billion.
The milestone places Bitmine on the verge of its stated “Alchemy of 5%” goal, with the company having acquired 26,497 ETH in the last week alone. Chairman Thomas “Tom” Lee remarked that “ETH prices are not reflecting the strengthening of Ethereum fundamentals,” adding that the market is in the early stages of a “crypto spring.”
Bitmine’s institutional-grade staking platform, MAVAN (Made in America VAlidator Network), now manages 4,718,677 staked ETH—valued at $9.5 billion at $2,003 per ETH. Annualized staking revenues are projected at $258 million, with a potential of $296 million when fully scaled, based on a 7-day yield of 2.73%.
The company’s ETH holdings make it the largest Ethereum treasury in the world and the second-largest global crypto treasury after Strategy Inc. (holding 843,738 BTC). Bitmine also highlighted its high trading liquidity, ranking as the 225th most traded stock in the U.S. with a daily dollar volume of $628 million.
Backed by institutional investors including ARK’s Cathie Wood, Pantera, Kraken, DCG, and Galaxy Digital, Bitmine continues to view regulatory developments like the GENIUS Act and SEC’s Project Crypto as transformative for digital assets.
