Bitmine Immersion Technologies said that as of 2:00 p.m. ET on May 31, 2026, it held 5,416,901 ETH. Using an ETH price of $2,003, the company said its combined crypto holdings, cash, and ���moonshots” reached $11.6 billion. On the company’s figures, its ETH position equals 4.49% of Ethereum’s stated 120.7 million coin supply.
Company says it is closing in on its 5% ETH target
Bitmine said it acquired 26,497 ETH over the past week. Chairman Thomas “Tom” Lee said the company expects to reach its “Alchemy of 5%” goal at some point in 2026. That target refers to building ETH holdings equal to 5% of total supply. Bitmine describes itself as a Bitcoin and Ethereum network company, and says it is using excess capital to build an Ethereum treasury strategy with ETH as its primary reserve asset.
More than 4.7 million ETH is already staked
As of May 31, Bitmine reported 4,718,677 staked ETH, worth about $9.5 billion at the same ETH price. The company said this represents more than 87% of its total ETH holdings. Lee said Bitmine’s own staking operations produced a 2.73% 7-day annualized yield. Based on that, the company projected $258 million in annualized staking revenue. It also said annualized staking rewards could reach $296 million once all of its ETH is fully staked through MAVAN and partner validators.
MAVAN is being positioned for institutional staking
Bitmine recently launched MAVAN, short for Made in America VAlidator Network. The platform was built first to support Bitmine’s own Ethereum treasury, according to the release. The company said it plans to expand MAVAN to serve institutional investors, custodians, and ecosystem partners, and added that a portion of its ETH has already been staked on the platform.
Holdings also include BTC, cash, and equity stakes
Beyond ETH, Bitmine listed 203 BTC, a $180 million stake in Beast Industries, a $93 million stake in Eightco Holdings, and $446 million in total cash. The company grouped the Beast Industries and Eightco positions under “moonshots.” It also said Eightco is now one of the few publicly listed equities that gives investors indirect exposure to OpenAI.
BMNR trading volume ranks among the more active US stocks
Citing Fundstrat data, Bitmine said BMNR posted an average daily dollar trading volume of $628 million over four days as of May 29, 2026. That placed the stock at No. 225 among 5,704 US-listed names. The company also described itself as the largest ETH treasury in the world and the No. 2 global crypto treasury behind Strategy Inc., which it said holds 843,738 BTC valued at $62 billion.
The release also included a broad set of forward-looking statements tied to ETH accumulation, MAVAN expansion, staking income, and management’s market view. Bitmine said actual results could differ because of digital asset price volatility, financing conditions, regulation, and changes in the trading price of its stock.