Bitmine Immersion Technologies Inc. (NYSE: BMNR) has disclosed that its Ethereum treasury now holds 5,777,468 ETH (valued at $1,879 per ETH), representing 4.8% of the total ETH supply of 120.7 million. Combined with cash, marketable securities, and other crypto assets, Bitmine’s total holdings stand at $11.5 billion.
The company, which began accumulating ETH as a long-term investment in June 2025, is now 96% toward its “Alchemy of 5%” goal—a target that would make it the first publicly traded entity to own 5% of all Ethereum. The latest weekly buy was 7,430 ETH, a slower pace as Bitmine also repurchased 5.5 million common shares last week under its $4 billion share repurchase program.
Bitmine operates MAVAN (Made in America VAlidator Network), an institutional-grade Ethereum staking platform, and currently has 4,917,189 ETH staked—worth $9.2 billion and equal to 85% of its total ETH holdings. The company projects $290 million in annualized staking rewards when fully scaled, with a 7-day yield of 2.67%. Chairman Thomas Lee stated that Bitmine has “staked more ETH than other entities in the world.”
In addition to ETH, Bitmine holds 207 Bitcoin (BTC), a $180 million stake in Beast Industries, and $58 million in Eightco Holdings (NASDAQ: ORBS), which provides indirect exposure to OpenAI. The firm’s institutional backers include ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital. Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, and its Series A Preferred Stock trades on the NYSE under the ticker BMNP.
Management sees the GENIUS Act and SEC’s Project Crypto as transformative for financial services, comparing their potential impact to the end of the gold standard in 1971.
