Bitmine nears 5% Ethereum supply target with $15.8B treasury

Bitmine Immersion Technologies has expanded its Ethereum treasury to approximately 5.96 million ETH, representing roughly 4.9% of the total circulating supply. This follows a recent purchase of 27,180 ETH, bringing the company within 98% of its target to own 5% of all Ethereum.

The company’s total holdings, which include crypto, cash, and marketable securities, are valued at approximately $15.8 billion. A significant portion of the Ethereum assets—about 5.07 million ETH—is staked through the company’s proprietary MAVAN (Made in America Validator Network) platform. Bitmine projects that this staking strategy could generate between $334 million and $392 million in annual revenue.

Beyond Ethereum, the company’s portfolio includes 212 Bitcoin, $549 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings. Chairman Tom Lee noted that the Ethereum-to-Bitcoin price ratio has reached its highest level since January, signaling a potential shift in market trends.