BitMine Ethereum Reserve Reaches 5.67M ETH, Nearing 5% Supply Goal

Highlights:

• BitMine’s Ethereum reserve has reached 5.67 million ETH, pushing overall crypto holdings to $10.7 billion.
• More than 4.7 million ETH is now staked through BitMine’s institutional MAVAN validator network.
• The company says it is 94% toward its target of owning 5% of Ethereum’s supply.

Bitmine Immersion Technologies (NYSE: BMNR) has reached a major milestone in its Ethereum accumulation strategy. The Norwalk, Connecticut-based company announced on Monday that its Ethereum holdings have grown to 5,672,956 ETH, pushing its combined crypto, cash, and investment holdings to $10.7 billion.

Advertisement

As of June 21, Bitmine holds 5.67 million ETH at a price of $1,733 per token, along with 205 Bitcoin, $601 million in total cash and marketable securities, a $180 million stake in Beast Industries, and a $104 million stake in Eightco Holdings (NASDAQ: ORBS). Eightco is noted as one of the few publicly listed companies that gives investors indirect exposure to OpenAI, which the company refers to as a “moonshot” investment.

With 5.67 million ETH, Bitmine now owns 4.7% of the entire Ethereum coin supply, which currently stands at 120.7 million tokens. The company is moving closer to its “Alchemy of 5%” target, a goal to own 5% of all ETH in circulation. According to the announcement, BitMine has already reached 94% of that target in just 11 months.

Bitmine Stakes More Than 4.7 Million ETH

A major part of Bitmine’s Ethereum strategy is staking. Staking allows ETH holders to support the Ethereum network and earn rewards. For beginners, it works like locking tokens to help secure the blockchain, while receiving a return for that role. Bitmine said it has staked 4,718,677 ETH, valued at about $8.2 billion based on an ETH price of $1,733. That amount is more than 83% of the company’s total ETH holdings.

The company recently launched MAVAN, which stands for Made in America VAlidator Network. Bitmine described MAVAN as an institutional-grade Ethereum staking platform. The platform was originally built to support Bitmine’s own Ethereum treasury, but the company said it plans to expand MAVAN to serve institutional investors, custodians, and ecosystem partners.

Bitmine Chairman Thomas “Tom” Lee said the company has staked more ETH than any other entity in the world. He also said annualized staking revenues are now projected at $223 million, while full-scale staking rewards could reach $268 million on an annualized basis, using a 2.73% seven-day BMNR yield.

BREAKING: Bitmine added 52,203 $ETH last week, increasing its total Ethereum holdings to 5.67 million ETH. 🚀 pic.twitter.com/QBvrEdtzFS

— The Moon Show (@TheMoonShow) June 22, 2026

Company Continues Ethereum Accumulation Strategy

Bitmine said it acquired 52,203 ETH over the past week. Lee said the company continues to maintain a steady pace of accumulation and expects to reach its 5% ETH target sometime this year. The company also reported that its Series A Preferred Stock trades on the New York Stock Exchange under the symbol BMNP. On June 10, Bitmine closed an offering of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share. The company received about $273.8 million in net proceeds after costs.

Bitmine also said its crypto holdings make it the number one Ethereum treasury and the second-largest global crypto treasury, behind Strategy Inc. The company remains focused on using its capital to build a large Ethereum reserve while also expanding staking through MAVAN.

Bitmine is a Bitcoin miner with operations in the United States. However, the company is now using its digital asset strategy to become a leading Ethereum treasury company for institutional investors and public market participants.

Advertisement