Bitmine’s Ethereum stash grows to 5.18M after fresh buy

Bitmine Immersion Technologies purchased 101,745 Ethereum during the period from May 3, 2026.

The total number of Ethereum purchased stood at 5,180,131 ETH, accounting for 4.29% of the total circulating Ether supply that amounted to 120.7 million tokens. This information was announced by the company on May 4, 2026. This purchase raised the company’s position up to 86% of their “Alchemy of 5%” target.

Bitmine’s Ethereum accumulation strategy has run for 10 months

Bitmine launched its dedicated Ethereum treasury program on June 30, 2025, with initial large purchases executed in early July of that year. In the first 35 days of the program, the company scaled from zero ETH to more than 833,000 tokens.

UPDATE: @BitMNR bought 101,745 ETH in 7 days

They now own 5.18 MILLION coins

That's 4.29% of ALL @ethereum in existence pic.twitter.com/G1uXTLsCUW

— Cryptopolitan (@CPOfficialtx) May 4, 2026

Prior to that, Bitmine had entered crypto in June 2025 with purchases totaling approximately 254 BTC. The real directional change came in July 2025 when Bitmine executed three major ETH purchases totaling more than 566,000 tokens.

From that point, weekly buying started through market drawdowns and sideways periods. Over ten months, the company scaled from zero to more than 5 million ETH. As of May 3, 2026, Bitmine’s holdings include 5,180,131 ETH, 200 Bitcoin, a $200 million stake in Beast Industries, an $83 million stake in Eightco Holdings, and total cash of $700 million. The combined total across crypto, cash, and these strategic stakes reaches $13.1 billion.

Staking operations generate $297 million in annualized revenue

Bitmine has staked 4,362,757 ETH, valued at $10.2 billion at current prices, across its MAVAN platform and staking partners. That staked figure is 84% of total holdings. The company’s own staking operations generated a 7-day annualized yield of 2.91%, producing $297 million in annualized staking revenue.

MAVAN, the Made in American VAlidator Network, was originally built to support Bitmine’s own treasury but is expanding to serve institutional investors, custodians, and ecosystem partners. The company has stated that it has staked more ETH than any other entity in the world.

Bitmine’s Ethereum holdings now at 4.29% of total supply

Bitmine has the ETH position of 5,180,131 ETH which equates to 4.29% of the total circulation of 120.7 million ETH tokens. This company needs approximately 843,000 more ETH to achieve the 5% goal. According to the weekly rate of acquisitions of 101,000-102,000 ETH, it will take about two months for Bitmine to achieve this level.

Bitmine is listed on the New York Stock Exchange under the stock ticker BMNR after having undergone the uplisting process from the NYSE American exchange on April 9, 2026. The company averages daily trading volume of around $625 million, ranking as the 173rd highest-traded stocks in the USA. Institutional backers include ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, and personal investor Thomas Lee.

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