Blab Crypto
Bitmine Surpasses 5% of Ethereum Supply, Expands Staking Network
In a bold announcement, Bitmine Immersion Technologies, Inc. (NYSE: BMNR) revealed that it now holds more than five percent of the entire Ethereum supply—5.54 million ETH, equivalent to 4.59 % of the 120.7 million‑token cap. As of June 7, 2026, the company’s combined crypto and cash holdings total $9.6 billion.
Bitmine’s stake in Ethereum stands at 4.718 million staked ETH, valued at $7.7 billion using the market price of $1,630 per token. The press release notes that the firm is 92 % of the way to its “Alchemy of 5%” objective, a target it expects to hit sometime in 2026.
Chairman Thomas Lee dismissed the recent price pullback as a “superficial take,” adding that demand for hardened blockchains will rise as artificial‑intelligence systems increasingly rely on public, neutral networks.
Beyond Ethereum, Bitmine’s portfolio includes 204 BTC, a $180 million stake in Beast Industries, and an $88 million stake in Eightco Holdings (NASDAQ: ORBS). Eightco is one of the few publicly listed companies that offers indirect exposure to OpenAI. The company also holds other tokens and “moonshots,” though the press release does not disclose them individually.
In March 2026, Bitmine launched the Made‑in‑America Validator Network (MAVAN), an institutional‑grade staking platform. MAVAN was built to support Bitmine’s own Ethereum treasury and to serve other institutional investors, custodians, and ecosystem partners. A portion of Bitmine’s ETH is already staked on MAVAN, and the firm projects that fully staking its current holdings could generate $270 million in annualized rewards, based on a 2.99 % seven‑day yield.
Bitmine’s staking operations rank among the world’s largest. The company’s 4.7 million staked ETH represents over 85 % of its total ETH holdings, and it projects annual staking revenue of $230 million.
With a $9.6 billion crypto treasury, Bitmine holds the largest Ethereum treasury globally and the second‑largest overall, behind Strategy Inc. (NASDAQ: MSTR), which owns 843,706 BTC worth $52 billion. BMNR’s stock is highly liquid, trading with an average daily dollar volume of $829 million and ranking 148th among 5,704 U.S.‑listed stocks.
The firm’s investor base includes prominent institutional names such as ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital, as well as individual investor Thomas Lee.
Forward‑looking statements in the release cover Bitmine’s ETH acquisition strategy, staking revenue projections, and the potential impact of regulatory developments such as the SEC’s Project Crypto and the GENIUS Act. These statements are subject to market volatility, regulatory changes, and other risks.
Independent coverage of Bitmine’s progress has appeared in several outlets. The Block reported that the company acquired 26,497 ETH in a single transaction and reiterated its 2026 target. KuCoin’s blog described Bitmine’s approach as a blend of acquisition, staking, and yield generation.
In short, Bitmine has crossed the 5 % threshold of Ethereum supply, expanded its staking infrastructure with MAVAN, and maintained a diversified crypto and cash portfolio. Its next milestones include full deployment of MAVAN, reaching the 5 % ETH target, and navigating evolving regulatory frameworks.
Bitmine’s stake in Ethereum stands at 4.718 million staked ETH, valued at $7.7 billion using the market price of $1,630 per token. The press release notes that the firm is 92 % of the way to its “Alchemy of 5%” objective, a target it expects to hit sometime in 2026.
Chairman Thomas Lee dismissed the recent price pullback as a “superficial take,” adding that demand for hardened blockchains will rise as artificial‑intelligence systems increasingly rely on public, neutral networks.
Beyond Ethereum, Bitmine’s portfolio includes 204 BTC, a $180 million stake in Beast Industries, and an $88 million stake in Eightco Holdings (NASDAQ: ORBS). Eightco is one of the few publicly listed companies that offers indirect exposure to OpenAI. The company also holds other tokens and “moonshots,” though the press release does not disclose them individually.
In March 2026, Bitmine launched the Made‑in‑America Validator Network (MAVAN), an institutional‑grade staking platform. MAVAN was built to support Bitmine’s own Ethereum treasury and to serve other institutional investors, custodians, and ecosystem partners. A portion of Bitmine’s ETH is already staked on MAVAN, and the firm projects that fully staking its current holdings could generate $270 million in annualized rewards, based on a 2.99 % seven‑day yield.
Bitmine’s staking operations rank among the world’s largest. The company’s 4.7 million staked ETH represents over 85 % of its total ETH holdings, and it projects annual staking revenue of $230 million.
With a $9.6 billion crypto treasury, Bitmine holds the largest Ethereum treasury globally and the second‑largest overall, behind Strategy Inc. (NASDAQ: MSTR), which owns 843,706 BTC worth $52 billion. BMNR’s stock is highly liquid, trading with an average daily dollar volume of $829 million and ranking 148th among 5,704 U.S.‑listed stocks.
The firm’s investor base includes prominent institutional names such as ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital, as well as individual investor Thomas Lee.
Forward‑looking statements in the release cover Bitmine’s ETH acquisition strategy, staking revenue projections, and the potential impact of regulatory developments such as the SEC’s Project Crypto and the GENIUS Act. These statements are subject to market volatility, regulatory changes, and other risks.
Independent coverage of Bitmine’s progress has appeared in several outlets. The Block reported that the company acquired 26,497 ETH in a single transaction and reiterated its 2026 target. KuCoin’s blog described Bitmine’s approach as a blend of acquisition, staking, and yield generation.
In short, Bitmine has crossed the 5 % threshold of Ethereum supply, expanded its staking infrastructure with MAVAN, and maintained a diversified crypto and cash portfolio. Its next milestones include full deployment of MAVAN, reaching the 5 % ETH target, and navigating evolving regulatory frameworks.
