Bitmine Immersion Technologies (BMNR) went on another shopping spree last week, adding 52,203 Ether to its corporate treasury. According to a Monday announcement, the company now holds 5.67 million ETH, representing 4.7% of the total circulating supply (roughly 120.7 million ETH). At a price of about $1,733 per coin, the stash is worth over $9.8 billion.
That makes Bitmine the world's largest corporate holder of Ether by a wide margin, and the second-largest crypto reserve company overall — trailing only Strategy, which holds about $54 billion worth of Bitcoin. As of June 7, Bitmine's total assets — including crypto, cash, and high-risk “Moonshots” investments — stood at $10.7 billion. Within that, cash and marketable securities accounted for $601 million, alongside a $180 million stake in Beast Industries and about $104 million of equity in Eightco Holdings.
94% of the Way to 5% Supply Goal
With the latest purchase, Bitmine is now 94% of the way toward its self-imposed target of owning 5% of all Ether ever issued. Chairman Tom Lee — also a well-known Wall Street analyst — confirmed the company will maintain a steady accumulation pace through the end of 2026. He described the current market phase as the “budding stage of a crypto spring,” adding, “The golden age of crypto is still ahead.” Lee cited the coming wave of asset tokenization and breakthroughs in artificial intelligence as key drivers that will unleash exponential demand for blockchain and decentralized crypto assets.
Ether's price, however, remains under pressure. At $1,690, ETH is down 2.8% in the past 24 hours and has slumped 64% from its all-time high of $4,946.05 reached in August 2025. Bitmine has not let the price dip slow its buying spree.
Staking Cash Flow: $223M a Year and Counting
Beyond pure accumulation, Bitmine is actively monetizing its holdings through staking. About 4.71 million ETH (83% of its entire stack) is currently staked, generating roughly $223 million in annual staking rewards. If the company moves all its Ether onto its own validator platform, MAVAN, annual yield could increase to around $268 million. The “buy and stake” strategy provides a stable revenue stream even when spot prices are choppy.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should make their own decisions.