Bitmine Immersion Technologies, Inc. said it acquired 126,971 ETH over the past week, bringing its total Ethereum holdings to 5,543,872 ETH as of June 7, 2026. The company described the purchase as part of its long-term treasury strategy. Chairman Tom Lee tied the move to Bitmine’s ongoing positioning in Ethereum as market conditions shift.
Ethereum reserves rise as Bitmine keeps a multi-asset balance sheet
The latest purchase adds to an existing reserve that already includes large crypto and cash positions. Bitmine said it holds 204 BTC and $247 million in cash alongside its Ethereum treasury. It also listed equity stakes in Beast Industries and Eightco Holdings. Combining crypto, cash, and equity positions, the company put the value of its total holdings at $9.6 billion.
More than 85% of ETH is staked through the MAVAN platform
Bitmine reported that 4,718,677 ETH is currently staked, worth about $7.7 billion at $1,630 per ETH. That accounts for more than 85% of its total Ethereum holdings. The company said this staking activity runs through MAVAN, short for Made in American Validator Network, which it describes as infrastructure built for institutional-grade staking and custody workflows. Parts of its ETH position are already operating through that setup.
Company says annualized staking revenue could reach $230 million
Based on a stated yield of 2.99%, Bitmine projected $230 million in annualized staking revenue. The firm also said its Ethereum position now equals about 4.59% of total ETH supply, which it estimated at 120.7 million ETH. By its own measure, that puts the company about 92% of the way toward its “Alchemy of 5%” accumulation target.
Bitmine added that institutional backers include ARK, Pantera, Galaxy Digital, and Founders Fund, among others. It also cited average daily stock trading volume of $829 million. In comments released by the company, Tom Lee referred to Ethereum’s place in digital markets, along with growth in staking yield and network usage trends.