Bitmine Immersion Technologies, Inc. (NYSE: BMNR) says its crypto treasury, cash and strategic equity stakes now total $12.3 billion, driven by a 5.39 million ETH position and other digital-asset and minority equity investments.
Snapshot of holdings (as of May 25, 2026, 1:00 PM ET): Bitmine holds 5,390,404 ETH (≈4.47% of a 120.7 million ETH supply) valued at $2,134 per ETH, 203 BTC, a $200 million stake in Beast Industries, and a $95 million stake in Eightco Holdings (NASDAQ: ORBS). The company also reports $444 million in cash. Together these positions and “moonshot” equity stakes comprise the $12.3 billion figure.
Staking and MAVAN: A large portion of Bitmine’s ETH is actively staked. The company reports 4,712,917 staked ETH, equal to about $10.1 billion at the stated ETH price. Bitmine launched MAVAN (Made-in-America VAlidator Network), an institutional-grade Ethereum staking platform built initially to secure Bitmine’s treasury and designed to scale to serve other institutional investors, custodians and partners. Bitmine says its staking operations produced a recent 7‑day yield of 2.75% (annualized), and projects staking rewards of roughly $276 million per year at scale.
Progress toward 5%: Bitmine describes its strategy as the “alchemy of 5%,” targeting ownership of roughly 5% of circulating ETH. With current holdings equal to 4.47% of supply, the company says it is about 89% of the way to that goal and expects to reach the 5% threshold in 2026. Bitmine reported an acquisition of 111,942 ETH over the prior week and characterized recent ETH price weakness below $2,200 as a buying opportunity.
Corporate and market developments: Bitmine uplisted from the NYSE American to the New York Stock Exchange effective April 9, 2026 and continues to trade under the ticker BMNR. The company is one of the most actively traded U.S. stocks by dollar volume, reporting a five‑day average daily trading value of $572 million and ranking roughly #193 among U.S.-listed equities.
Positioning and backers: Bitmine positions itself as the world’s largest dedicated ETH treasury and the #2 digital-asset treasury globally (behind MicroStrategy by BTC holdings). The company highlights support from prominent institutional and high‑profile investors, including ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, Bill Miller III, MOZAYYX and personal investor Thomas “Tom” Lee.
Outlook and risks: Bitmine’s leadership frames the outlook for Ethereum and crypto more broadly as driven by institutional tokenization on-chain and growing demand from agentic AI systems for neutral public ledgers. The company reiterates that future results depend on market conditions, regulatory developments, staking dynamics and other risks, and that forward-looking statements are subject to uncertainty. More details, investor materials and the chairman’s message are available through Bitmine’s investor relations channels.