Bitmine Immersion Technologies (BMNR) revealed it now holds 5.42 million ETH tokens, valued at $11.6 billion, encompassing total crypto and cash reserves. This substantial holding represents about 4.49% of the entire circulating supply of Ethereum.
The company's treasury strategy focuses on accumulating Ethereum through reinvested cash flow, capital market activities, and staking. Bitmine currently stakes 4,718,677 ETH, worth $9.5 billion at a price of $2,003 per ETH, via its MAVAN (Made in America VAlidator Network) platform. The company projects annualized staking rewards of $296 million and staking revenues of $258 million when ETH is fully staked.
Bitmine also holds $446 million in cash and a $93 million stake in Eightco, providing indirect exposure to OpenAI. The company's strategic moves are supported by institutional investors like ARK's Cathie Wood, Founders Fund, and Galaxy Digital. Bitmine ranks as the 225th most actively traded stock in the U. S., averaging $628 million in daily trading volume.
Bitmine's "Alchemy of 5%" strategy aims to accumulate 5% of the total ETH supply, positioning itself as a key player in the Ethereum ecosystem. Thomas Lee, Chairman of Bitmine, views Ethereum as critical infrastructure for the future of money, particularly with the rise of AI agents and stablecoins. The company's large ETH treasury and staking operations reflect its confidence in Ethereum's long-term potential.
