Bitmine Immersion Technologies said its Ethereum treasury has climbed to 5.078 million ETH, a holding the company described in a PR Newswire release as a record for a public corporate treasury tied to the asset. According to the company, the position was worth roughly $12 billion at an ETH reference price of $2,369 as of April 26, while total crypto, cash, and other investment holdings reached $13.3 billion. The announcement adds to Bitmine’s stated strategy of building toward ownership of 5% of the total ETH supply.
Bitmine Tops 5.08 Million ETH on Treasury Push
Bitmine said its 5,078,386 ETH represented about 4.21% of Ethereum’s 120.7 million token supply as of April 26, citing its own calculations in the release. The company also said it reached that level in roughly 10 months, framing the accumulation as 84% of the way toward its internal “Alchemy of 5%” target. Bitmine, which trades on the NYSE under BMNR after uplisting from NYSE American on April 9, describes itself as a Bitcoin miner that has shifted excess capital into an Ethereum-focused treasury strategy.
Thomas “Tom” Lee, chairman of Bitmine, said the latest increase came after another week of accelerated buying. “Bitmine ETH holdings crossed 5 million this past week,” Lee said in the statement. “This is a major milestone as the Company moves towards acquiring 5% of the ETH supply. And this pace of accumulation is astonishing, taking only 10 months to reach 5 million.”
Lee also tied the company’s ETH thesis to broader market and infrastructure trends, though those views were presented as his and not as independently verified conclusions in the release. “Moreover, Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains,” he said. “In our view, there is a lot of meaning to ETH being the best ‘war-time store of value’ and to ETH being the asset leading since the war started.” The release also said Bitmine acquired 101,901 ETH in the past week, which Lee described as the fastest pace of purchases since the week of Dec. 15, 2025.
Company Says Holdings Now Total $13.3 Billion
According to Bitmine’s announcement, the company’s combined holdings totaled $13.3 billion, consisting of its ETH treasury, 200 BTC, $940 million in cash, a $200 million stake in Beast Industries, and a $91 million stake in Eightco Holdings. The company referred to the latter equity positions as “moonshots.” It also said its Eightco investment gives investors exposure to OpenAI through one of the few public equities offering that link, though the release did not provide additional detail on that relationship.
A large share of Bitmine’s ETH is already deployed into staking, the company said. As of April 26, Bitmine reported 3,701,589 staked ETH, valued at about $8.8 billion at the same $2,369 reference price. The company said MAVAN, its “Made in America VAlidator Network,” was initially built to support Bitmine’s internal treasury operations and is intended to expand into an institutional staking platform serving custodians, investors, and ecosystem partners.
Lee said the staking business is becoming a meaningful contributor to the treasury model. “Annualized staking revenues are now $264 million. And this 3.7 million ETH is about 73% of the 5.08 million ETH held by Bitmine,” he said. “The CESR (Composite Ethereum Staking Rate, administered by Quatrefoil) is 3.028%, while Bitmine’s own staking operations generated a 7-day yield of 3.033% (annualized).” In a separate passage, Lee added that if all of Bitmine’s ETH were fully staked through MAVAN and partner infrastructure, “the projected ETH staking reward is $363 million annually,” a figure the company said is based on a 3.033% seven-day BMNR yield.
The announcement positions Bitmine as one of the most aggressive public-market ETH treasury vehicles, at least by the company’s own disclosures. Beyond the balance sheet update, Bitmine said BMNR averaged $845 million in daily dollar trading volume over five days ending April 24, citing Fundstrat data, and ranked 129th among U.S.-listed stocks by that measure. Those figures, along with the company’s expanding staking operation, suggest Bitmine is trying to pair treasury scale with public-market liquidity as it pushes toward its stated 5% ETH ownership goal.
AI Transparency Note: This article was prepared with the assistance of an AI system based on the sources listed and was reviewed, edited, and approved by a human editor before publication. All quotes, data points, and factual claims are intended to be grounded in the cited source material; however, errors cannot be ruled out entirely.
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