Bitmine said that as of May 3, 2026, it held 5,180,131 ETH, giving it control of 4.29% of Ethereum’s total supply. The company said this puts it at 86% of its internal “5 percent Alchemy” target. To reach that mark, Bitmine still needs to buy about 843,000 ETH, and it expects to get there within the next two months if its current weekly purchase pace continues.
Ethereum buying program scaled up quickly
Bitmine launched its Ethereum accumulation program in June 2025. The company said its ETH holdings went from zero to more than 833,000 ETH in the first 35 days. Bitmine had entered crypto through Bitcoin first, acquiring about 254 BTC in its earlier phase. By July 2025, it had shifted its resources fully toward Ethereum and bought 566,000 ETH through three major transactions during that month.
Steady purchases over the following months pushed the company’s holdings past 5 million ETH within ten months. Bitmine also reported a broader asset base that includes 200 Bitcoin, a $200 million equity stake in Beast Industries, an $83 million stake in Eightco Holdings, and $700 million in cash. The total value of its combined crypto, cash, and equity holdings was listed at $13.1 billion.
Most of the ETH position is staked through MAVAN
Out of its full Ethereum holdings, Bitmine said 4,362,757 ETH has been locked through its in-house staking platform MAVAN and partner services. That equals 84% of its ETH portfolio. The company valued the staked portion at $10.2 billion and said staking generates $297 million in annual income.
MAVAN, short for Made in American Validator Network, was first created to manage Bitmine’s internal assets. The platform later expanded to serve institutional investors and ecosystem partners. Bitmine said it is now the largest institutional ETH staker in the world.
BMNR trading moved to the NYSE main exchange
Bitmine Immersion Technologies trades on the New York Stock Exchange under the ticker BMNR. The company moved from NYSE American to the main exchange on April 9, 2026. It reported average daily trading volume of more than $625 million, ranking it as the 173rd most traded company in the United States.
Its investor base includes Cathie Wood of ARK Invest, Founders Fund, Pantera Capital, Kraken, Digital Currency Group (DCG), Galaxy Digital, and individual investor Thomas Lee. The company’s large ETH treasury and staking operation have drawn broad attention across the crypto market.