Bitmine Immersion Technologies (NYSE: BMNR) today reported crypto, cash and strategic “moonshot” assets totaling $13.4 billion, anchored by 5.21 million ETH tokens and an expanding staking program.
Key highlights
– Total crypto + cash + moonshots: $13.4 billion. This includes 5,206,790 ETH, total cash of $775 million, a $200 million stake in Beast Industries, an $88 million position in Eightco Holdings (NASDAQ: ORBS), and other crypto and strategic holdings including 201 BTC.
– ETH ownership: Bitmine’s ETH holdings represent approximately 4.31% of the circulating supply (based on a 120.7 million ETH supply figure).
– Staked ETH: 4,712,917 ETH are currently staked (valued at $11.1 billion at $2,366 per ETH as of May 10, 2026). Bitmine says it has staked more ETH than any other entity worldwide.
– Staking yields and revenue: Bitmine reported a 7‑day BMNR yield of 2.86% (annualized). Using that figure, projected ETH staking rewards were cited at roughly $352 million annually; Bitmine also reported annualized staking revenues of about $319 million.
– Accumulation progress: Since the start of 2026 Bitmine has acquired more than 1 million ETH and is roughly 86% of the way toward its stated “alchemy of 5%” goal. The company has chosen to slow the prior weekly buy pace (>100,000 ETH per week) to moderate accumulation timing.
– MAVAN launch: Bitmine launched MAVAN (Made-in-America VAlidator Network), an institutional-grade Ethereum staking platform designed to support Bitmine’s treasury and to serve institutional investors, custodians and partners. A portion of Bitmine’s ETH is already staked on MAVAN.
– Market and corporate developments: Bitmine completed an uplisting from NYSE American to the New York Stock Exchange on April 9, 2026 and continues to trade under the ticker BMNR. The stock is highly liquid—averaging $816 million in daily dollar volume (5‑day average), ranking it among the top-traded U.S. stocks (#149 by that 5‑day metric).
– Support and partnerships: Bitmine says it remains backed by a strong group of institutional and strategic investors, including ARK Invest’s Cathie Wood, Mozayyx, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and investor Thomas “Tom” Lee.
Chairman’s perspective
Chairman Thomas “Tom” Lee framed the company’s strategy around the idea that a new cycle—what he terms “crypto spring”—is underway. He emphasized two structural drivers for Ethereum’s long-term utility and value: (1) financial market tokenization by Wall Street, and (2) growing demand from agentic AI systems for neutral, public blockchain infrastructure. Lee noted that if ETH closes above $2,100 at the end of May 2026, it would mark three consecutive monthly gains—an outcome he believes would validate the start of a new bullish phase.
Treasury positioning and intent
Bitmine describes its business as a Bitcoin miner deploying excess capital to build the world’s leading Ethereum treasury. The company’s strategy prioritizes ETH as its primary reserve asset, with a focus on staking and other native protocol activities to both earn yield and reduce available liquid supply. By staking a large share of its ETH, Bitmine says it is effectively removing material supply from circulation, contributing to a disinflationary supply dynamic since mid‑2025.
Rankings and context
Bitmine positions itself as the largest ETH treasury globally and the #2 digital-asset treasury overall behind MicroStrategy (MSTR) in the Bitcoin space. The company also highlights its strong trading liquidity and public-market profile as advantages in executing its strategy.
Further information and risks
Bitmine’s full Chairman’s Message, investor presentations and additional disclosures are available on the company’s investor relations site. The company cautions that statements about future performance, ETH accumulation goals, staking rewards, regulatory developments, and market conditions are forward‑looking and subject to risks and uncertainties described in Bitmine’s SEC filings. Bitmine undertakes no obligation to update forward‑looking statements except as required by law.