Key Highlights
- Bitmine Immersion Technologies increased its holdings to 5,672,956 ETH, representing about 4.7% of Ethereum’s total supply.
- The company’s combined assets, including Bitcoin, investments, cash, and securities, now total approximately $10.7 billion.
- Around 83% of Bitmine’s ETH holdings are staked through its MAVAN validator platform to generate yield revenue.
Bitmine Immersion Technologies, an Ethereum (ETH)-focused treasury firm, today announced that its holdings have reached 5,672,956 ETH.
According to the official announcement, the latest purchase was valued at approximately $1,733 per ETH. Chairman Thomas “Tom” Lee commented on the development, stating, “Over the past week, we acquired 52,203 ETH. We continue to maintain a steady pace of accumulation throughout 2026. We believe we are in the early stages of crypto spring. Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026.”
The company’s holdings represent about 4.7% of Ethereum’s total supply of 120.7 million tokens. Combined with Bitcoin holdings, strategic investments, cash, and marketable securities, the company’s total assets now stand at $10.7 billion.
Bitmine stakes 83% of its holdings
The company has staked 4,718,677 ETH, roughly 83% of its holdings, through its proprietary MAVAN (Made in America Validator Network) platform. Launched earlier in 2026, MAVAN was initially built to secure Bitmine’s own treasury but is now positioned to serve institutional investors, custodians, and ecosystem partners.
At current yields around 2.73%, the staked portion is projected to generate approximately $223 million in annualized staking revenue, with potential to reach $268 million when fully deployed. Bitmine claims this makes it the world’s largest single ETH staker.
The company’s “Alchemy of 5%” strategy aims to accumulate 5% of Ethereum’s total supply. With 4.7% currently held, Bitmine has reached about 94% of that target after 11 months of accumulation. According to the company, the strategy is intended to generate staking yield while contributing to Ethereum’s network security.
Previous ETH accumulation
Previously, on June 15, the company announced holdings of 5,620,754 ETH, valued at $9.67B at $1,718/ETH, after adding 76,881 ETH that week. Before that, as of June 7, holdings stood at 5,543,872 ETH (4.59% of supply), with 126,971 ETH acquired in the prior week for around $213M during a market dip.
At the time of writing, ETH was trading around $1,751, up 2.1% in the last 24 hours, showing modest recovery from recent purchase levels, according to CoinMarketCap.
Holdings beyond ETH
Beyond ETH, the treasury includes 205 BTC, a $180 million stake in Beast Industries, and a $104 million position in Eightco Holdings (NASDAQ: ORBS), offering indirect exposure to high-growth tech like OpenAI. Cash and marketable securities add another $601 million, providing liquidity and flexibility.
Bitmine’s momentum extends to capital markets and recognition. On June 10, the company closed an offering of 9.50% Series A Perpetual Preferred Stock (NYSE: BMNP), raising net proceeds of about $273.8 million.
Dividends on these shares are paid weekly. Just days later, Fortune Magazine named Bitmine to its inaugural 2026 Crypto 100 list, highlighting its influence in the blockchain sector through analysis and expert input.
Bitmine remains subject to volatility
Bitmine draws historical parallels to underscore the significance of current developments. It compares the anticipated impact of the GENIUS Act and the SEC’s Project Crypto to the 1971 Nixon shock that ended the gold standard, arguing these policy shifts could modernize financial services and create new investment paradigms superior to traditional stores of value.
While management expresses optimism about reaching 5% ownership and benefiting from evolving crypto regulations, the approach remains exposed to cryptocurrency market volatility, regulatory developments, and execution risks typical of large-scale digital asset strategies.
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