NORWALK, Conn., May 11, 2026 — Bitmine Immersion Technologies, Inc. (NYSE: BMNR) today reported its crypto and cash treasury totals $13.4 billion, driven by a 5.21 million ETH position and new staking infrastructure for institutional customers.
Key highlights
– Total crypto + cash + strategic “moonshot” holdings: $13.4 billion.
– ETH holdings: 5,206,790 tokens (4.31% of an estimated 120.7 million ETH supply, as of May 10, 2026).
– Staked ETH: 4,712,917 (valued at about $11.1 billion at $2,366 per ETH).
– Additional holdings: 201 BTC; $200 million position in Beast Industries; $88 million position in Eightco Holdings (NASDAQ: ORBS).
– Cash on hand: $775 million.
– Company uplisted to the New York Stock Exchange on April 9, 2026 (ticker: BMNR).
– MAVAN (Made-in-America Validator Network) launched as Bitmine’s institutional-grade staking platform.
– Trading liquidity: average daily dollar volume of $816 million (5-day average), ranking the stock among the most actively traded U.S. equities.
Chairman’s perspective
Thomas “Tom” Lee, Chairman of Bitmine, framed the update around what he calls the start of a ‘crypto spring.’ Lee emphasized two primary long-term drivers for Ethereum: Wall Street tokenization and the growing demand from agentic AI systems for public, neutral blockchains. He noted that if ETH closes above $2,100 at the end of May 2026, it would mark a third consecutive monthly gain — an outcome he argues would confirm that the market has turned.
Acquisition and staking strategy
Since the start of 2026, Bitmine has acquired more than 1 million ETH and now controls roughly 4.31% of circulating supply. The company plans to hold and stake the majority of its ETH, reducing available liquid supply and contributing to what Bitmine describes as a disinflationary dynamic in ETH availability since June 30, 2025.
Bitmine previously targeted weekly accumulation rates above 100,000 ETH but has slowed that pace as it approaches its strategic goal of holding 5% of total ETH supply — the company refers to this milestone as the ‘alchemy of 5%.’ Bitmine estimates it is approximately 86% of the way to that target after 11 months of accumulation.
MAVAN and staking economics
MAVAN, Bitmine’s Made-in-America Validator Network, was developed to secure and stake Bitmine’s treasury ETH and will be expanded to serve institutional investors, custodians and ecosystem partners. As of May 10, 2026, Bitmine reports 4,712,917 ETH staked on its platform and partner validators. Using a recent seven-day yield of 2.86%, Bitmine projects annualized staking rewards in the hundreds of millions — the company cited a projected staking reward pool of approximately $352 million at scale and reported current annualized staking revenues near $319 million.
Market position and investor support
Bitmine represents the largest publicly disclosed Ethereum treasury in the world and ranks second among all public crypto treasuries globally, behind MicroStrategy (MSTR) in total crypto dollar value. The company also highlights broad institutional support from investors and partners that include ARK Invest, MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Digital Currency Group, Galaxy Digital and other stakeholders.
Regulatory and macro context
The company’s commentary places recent regulatory initiatives — including the GENIUS Act and the SEC’s Project Crypto — in a broader historical context, suggesting such policy moves could be transformative for financial markets in a way comparable to the end of the Bretton Woods gold standard in 1971.
Where to find more information
Bitmine’s Chairman’s Message, fiscal 2025 earnings materials and investor presentations are available on the company’s investor relations site. The company also maintains an active presence on X for updates.
Forward-looking statements
This release contains forward-looking statements, including expectations for ETH accumulation goals, staking rewards, market trends and the impact of regulatory changes. Actual results may differ materially due to market volatility, regulatory developments, operational risks and other factors described in Bitmine’s SEC filings. Bitmine assumes no obligation to update forward-looking statements except as required by law.