BitMine holds 4.8% of ETH supply as Bitwise reports strong crypto fundamentals

BitMine Immersion Technologies disclosed that it now owns 5.77 million ETH, representing about 4.8% of the total 1.207 billion ETH supply. Roughly 85% of the tokens are staked through its MAVAN validator network, and the firm projects annual staking revenue of about $242 million. The company’s crypto portfolio also includes 206 BTC, sizable investments in Beast Industries and Eightco Holdings, and cash and marketable securities valued at roughly $4.8 billion, bringing its total assets to an estimated $113 billion.

Separately, Bitwise research director Ryan Rasmussen highlighted findings from the firm’s quarterly “Crypto Market Review.” While ETH and broader crypto prices fell 36% in the first half of 2026, crypto‑related equities rose 23% and outperformed most major asset classes. Revenue from the top ten crypto applications reached $5.9 billion, tokenized real‑world assets hit a record $33 billion in Q2, and prediction‑market positions and trading volumes both set new highs. Rasmussen concluded that, despite price declines, the underlying fundamentals of crypto assets remain robust and could underpin the next market cycle.