Bitmine Approaches Goal of Controlling 5% of Ethereum Supply With $11.8 Billion Treasury
Crypto treasury firm BitMine Immersion Technologies has increased its Ethereum holdings to 5.8 million ETH, bringing the total value of its crypto and other assets to approximately $11.8 billion. The company is nearing its goal of acquiring 5% of Ethereum's supply as it continues expanding through purchases, staking initiatives like its Made in America Validator Network (MAVN), and share buybacks under a $4 billion program. Bitmine Chairman Tom Lee highlighted the rising ETH/BTC ratio as an indicator of strengthening crypto prices despite uncertainty around regulatory developments. The firm also holds 208 Bitcoin ($13.6 million), $268 million in cash, marketable securities, and strategic investments such as a stake in Mr Beast's Beast Industries. The company projects annualized staking rewards of about $299 million once all its ETH is staked through MAVAN. Bitmine has been rapidly expanding since April 2026 when it surpassed the 5 million ETH threshold, and more public companies are adopting Ethereum treasury strategies similar to Bitcoin's.
Tickers: $BMNR
Topics: Bitmine Immersion Technologies buybacks crypto treasury Ethereum staked ETH