Bitmine Immersion Technologies (NYSE: BMNR) announced on May 4, 2026, that it acquired 101,745 Ether (ETH) in the past week. The purchase pushed the company’s total ETH holdings to 5,180,131 tokens. At a price of $2,336 per ETH, the company’s Ethereum position is now worth over $12 billion.
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BitMine provided its latest holdings update for May 4, 2026 $13.1 billion in total crypto + “moonshots”:
– 5,180,131 ETH at $2,336 per ETH (@coinbase)
– 200 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $83 million…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) May 4, 2026
The announcement confirms Bitmine’s continued position as the world’s largest Ethereum treasury. Total crypto, cash, and equity holdings now stand at $13.1 billion.
Bitmine’s Latest ETH Purchase Worth Approximately $238 Million
The 101,745 ETH acquisition cost the company roughly $238 million at current market prices. Bitmine has maintained an aggressive buying pace in recent weeks. The company consistently added significant ETH positions throughout April 2026.
The latest buy reflects a deliberate accumulation strategy. Bitmine targets long-term ETH holdings rather than short-term trading. The company describes its core philosophy as the “Alchemy of 5%,” aiming to hold 5% of the total ETH supply.
ETH Holdings Now Represent 4.29% of Total Ethereum Supply
Bitmine’s 5.18 million ETH holdings now account for 4.29% of the total Ethereum supply. The circulating ETH supply currently stands at approximately 120.7 million tokens. This means one company controls nearly one in every 23 ETH tokens in existence.
This concentration marks a significant milestone for institutional Ethereum accumulation. No other single corporate entity holds a comparable share of the ETH supply. The figure places Bitmine among the most influential holders in the Ethereum ecosystem.
Staking Operations Generate $297 Million in Annualized Revenue
Bitmine has staked 4,362,757 ETH through its proprietary staking platform. That figure represents more than 84% of the company’s total ETH holdings. The staking generates annualized revenues of $297 million at a 7-day yield of 2.91%.
The company conducts its staking operations through MAVAN, short for Made in America Validator Network. MAVAN serves as Bitmine’s institutional-grade staking infrastructure. The platform also targets external institutional investors, custodians, and ecosystem partners.
Bitmine’s MAVAN platform powers large-scale Ethereum staking operations, generating hundreds of millions in annualised revenue. [Aurecon]
At full scale, the company projects annual staking rewards of $352 million. That projection assumes complete staking of all 5.18 million ETH tokens through MAVAN and its staking partners.
Tom Lee Declares “Crypto Spring” Has Begun
Bitmine Chairman Thomas Lee issued a direct statement on the current market cycle. “Crypto Spring, in our view, has commenced, and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen,” Lee stated.
Chairman Thomas Lee says “Crypto Spring” has begun, citing Ethereum’s recovery and growing institutional demand. [The Block]
Lee argued that broader market signals support this view. He pointed to Ethereum’s price recovery as evidence of renewed momentum. He also noted that ETH has outperformed equities since late February 2026.
Lee identified two structural drivers supporting Ethereum’s long-term growth. The first is the growing trend of financial asset tokenization on blockchain networks. The second is the increasing demand from artificial intelligence systems for neutral, public blockchain infrastructure.
CLARITY Act Update: Bitmine Backs Senate Compromise
The U.S. Senate recently released a compromise version of the CLARITY Act. The bill bans stablecoin yield on reserves but permits activity-based staking rewards. Lee called the compromise acceptable for Bitmine’s operations.
“This compromise is largely acceptable to us, and we hope to see this bill passed in 2026,” Lee said. Prediction markets currently assign over a 60% probability to the bill passing this year. That represents the highest odds recorded in more than a month.
Bitmine views the CLARITY Act as a positive regulatory development for the sector. Clear rules on staking rewards would benefit institutional players like Bitmine. The company expects legislative clarity to attract more institutional capital into Ethereum.
Total Holdings Reach $13.1 Billion Including Cash and Equity Stakes
Beyond ETH, Bitmine holds several other assets on its balance sheet. The company holds 200 Bitcoin (BTC) alongside its Ethereum position. It also holds $700 million in cash reserves.
Bitmine carries equity stakes in two companies it describes as “moonshots.” These include a $200 million stake in Beast Industries and an $83 million stake in Eightco Holdings (NASDAQ: ORBS). Eightco provides indirect public market exposure to OpenAI through its holdings.
Combined, the total portfolio value, crypto, cash, and equity stakes, reaches $13.1 billion. This represents a significant increase from the $12.9 billion reported in late April 2026. The growth reflects both fresh purchases and ETH price appreciation.
Bitmine Ranks Second Among Global Crypto Treasuries
Bitmine holds the top position among all Ethereum-focused corporate treasuries globally. However, it ranks second overall among all crypto treasury companies. Strategy Inc. (NASDAQ: MSTR) holds the top spot with 818,334 BTC valued at approximately $64.2 billion.
Despite ranking second by total value, Bitmine leads in ETH-specific accumulation metrics. No other company comes close to its staked ETH total or its share of the ETH supply. The company also leads peers in the speed at which it grows net asset value per share.
BMNR Stock Among the Most Traded in the United States
Bitmine’s stock trades under the ticker BMNR on the New York Stock Exchange. The company uplisted to the NYSE from NYSE American on April 9, 2026. Since then, trading activity has remained exceptionally high.
BMNR averages $625 million in daily trading volume based on a five-day average. That volume ranks the stock 173rd among all U.S.-listed equities. The high liquidity reflects strong institutional and retail interest in the company’s Ethereum strategy.
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FAQS
Q1. How much Ethereum does Bitmine Immersion Technologies currently hold?
A1. Bitmine holds 5,180,131 ETH, making it the largest corporate holder of Ethereum globally, representing about 4.29% of the total supply.
Q2. How much was Bitmine’s latest Ethereum purchase worth?
A2. The company acquired 101,745 ETH worth approximately $238 million based on current market prices.
Q3. What is Bitmine’s “Alchemy of 5%” strategy?
A3. It is a long-term accumulation strategy where Bitmine aims to hold 5% of the total Ethereum supply rather than actively trading.
Q4. How does Bitmine generate revenue from its ETH holdings?
A4. Bitmine stakes over 84% of its ETH through its MAVAN platform, generating around $297 million in annualized staking revenue.
Q5. What is the CLARITY Act, and why is it important to Bitmine?
A5. The CLARITY Act is a proposed U.S. regulation that permits staking rewards while restricting stablecoin yields. Bitmine supports it because it provides regulatory clarity that could attract institutional investment.
Disclaimer:
This content is published by Crafmin for informational purposes only and does not constitute financial, investment, or legal advice. The article is based on publicly available information regarding Bitmine Immersion Technologies and broader market developments. Readers should conduct their own research or consult a qualified financial advisor before making any investment decisions. Crafmin does not guarantee the accuracy or completeness of the information and accepts no liability for any losses arising from its use.
