Bitmine Immersion Technologies said that as of 4:00 p.m. ET on May 10, 2026, it held 5,206,790 ETH. Using a reference price of $2,366 per ETH, the company said its combined crypto holdings, cash, and “moonshots” were worth $13.4 billion. The disclosed balance also included 201 BTC, $775 million in cash, a $200 million stake in Beast Industries, and an $88 million stake in Eightco Holdings.
According to the company, its ETH position accounts for 4.31% of the 120.7 million ETH supply. Bitmine also said it had acquired more than 1 million ETH since the start of 2026 and intends to keep holding and staking that treasury position.
More than 4.7 million ETH has been staked
Bitmine said total staked ETH stood at 4,712,917 ETH as of May 10, equal to roughly $11.1 billion at the same ETH price. That represents more than 90% of the company’s total ETH holdings. Chairman Thomas “Tom” Lee said Bitmine’s own staking operations produced a 2.86% annualized 7-day yield, putting annualized staking revenue at about $319 million. He added that if the full ETH position is staked through MAVAN and partner infrastructure, projected annual staking rewards would reach $352 million.
The company launched MAVAN, short for Made in American VAlidator Network, in 2026 as an institutional-grade staking platform. Bitmine said the platform was first built to support its own Ethereum treasury, and that it plans to extend the service to institutional investors, custodians, and ecosystem partners. A portion of its ETH is already staked through MAVAN.
Company says weekly accumulation pace will slow
In the chairman’s message, Lee said Bitmine had decided to slow its weekly ETH accumulation pace. He said the prior pace of more than 100,000 ETH per week would have put the company on track to reach its “5%” target by mid-July 2026. Bitmine has described that goal as the “alchemy of 5%.”
Lee also said that if ETH closes above $2,100 at the end of May 2026, it would mark a third straight monthly gain. He used that threshold to argue that “crypto spring” had arrived. The release also states that comments tied to ETH accumulation, staking revenue, regulation, and market direction are forward-looking statements and may differ materially from actual outcomes.
BMNR trading volume ranks near the top tier of US-listed stocks
Bitmine said it uplisted from NYSE American to the New York Stock Exchange on April 9, 2026, while keeping the ticker BMNR. Citing Fundstrat data, the company said BMNR posted an average daily dollar trading volume of about $816 million on a 5-day basis as of May 8, 2026, ranking No. 149 among 5,704 US-listed stocks.
The company also said it remains the largest Ethereum treasury in the world and the No. 2 global crypto treasury behind Strategy. Bitmine added that its institutional backers include Cathie Wood, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital, among others.