Bitmine Immersion Technologies (BMNR) has significantly expanded its Ethereum treasury, now holding 5.77 million ETH—equivalent to 4.8% of the total supply of the world’s second-largest cryptocurrency, the company announced Monday.
At a market price of $1,820 per ETH, Bitmine’s Ethereum holdings are valued at approximately $10.5 billion, making it the largest corporate holder of ether globally and the second-largest corporate crypto treasury overall, behind only Strategy’s $54 billion Bitcoin position.
The latest update reflects an addition of 27,801 ETH over the prior week, bringing Bitmine to 96% of its stated goal to accumulate 5% of Ethereum’s current circulating supply of 120.7 million tokens—a target the company refers to as its “alchemy of 5%.”
Chairman Tom Lee emphasized the company’s continued aggressive acquisition strategy, citing the upcoming July 1 mainnet launch of Robinhood Chain as validation of Ethereum’s growing utility and product-market fit.
“Robinhood’s 27 million users are paying crypto fees denominated in ETH,” Lee said in the statement. “In other words, everyday users are starting to see ETH as money.”
Despite this bullish sentiment, ether’s price declined 1.95% in the past 24 hours, trading at $1,766 on Monday, according to The Block’s ETH price page. The asset remains 64% below its all-time high of $4,946, which was reached in August 2025.
Bitmine also disclosed that 4.92 million ETH—over 85% of its total holdings—are currently staked. The company reports a 2.70% seven-day staking yield, with annualized staking revenue projected at $242 million, expected to rise to approximately $284 million at scale through its MAVAN validator infrastructure.
Beyond Ethereum, Bitmine holds 206 BTC, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings, and $482 million in cash and marketable securities.
Shares of Bitmine closed Friday at $14.98, up 1.97% for the day, per The Block’s BMNR price page.
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