Bitmine buys 101,745 ETH, holdings reach 5.18M

Bitmine Immersion Technologies purchased 101,745 Ethereum on May 3, 2026, a transaction the company disclosed on May 4. The purchase raised its total to 5,180,131 ETH, equal to 4.29% of the reported circulating supply of 120.7 million tokens.

The ETH accumulation began with a dedicated treasury program launched on June 30, 2025. Bitmine executed large initial purchases in early July 2025 and expanded its position quickly; within the first 35 days the program grew from zero to more than 833,000 ETH. In July 2025 the company completed three major buys totaling more than 566,000 ETH and continued weekly purchases through market drawdowns and sideways periods. Over about 10 months the program increased the firm’s holdings from zero to more than five million ETH.

Using the current circulating-supply figure, a 5% stake would equal 6,035,000 ETH. At 5,180,131 ETH on hand, Bitmine needs about 854,869 more ETH to reach that level. At the recent weekly acquisition pace of roughly 101,000–102,000 ETH, the company would reach 5% in about eight to nine weeks if that pace continues.

Bitmine has staked 4,362,757 ETH, or about 84% of its ETH holdings, across its MAVAN platform and third-party staking partners. The staked ETH is valued at about $10.2 billion at current prices. Bitmine reported a seven-day annualized staking yield of 2.91%, which corresponds to roughly $297 million in annualized staking revenue based on current holdings and yields. MAVAN, the Made in American VAlidator Network, was built initially to support Bitmine’s treasury and is being expanded to serve institutional investors, custodians and ecosystem partners.

Beyond Ethereum, Bitmine’s balance sheet as of May 3, 2026, includes 200 Bitcoin, a $200 million stake in Beast Industries, an $83 million stake in Eightco Holdings and $700 million in cash. The company reports combined assets across crypto, cash and strategic stakes totaling $13.1 billion. Bitmine first entered crypto in June 2025 with purchases of roughly 254 BTC before shifting its accumulation focus to ETH.

Bitmine is publicly traded on the New York Stock Exchange under the ticker BMNR after an uplisting from the NYSE American on April 9, 2026. The company averages about $625 million in daily trading volume. Institutional backers and investors associated with Bitmine include ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, Digital Currency Group, Galaxy Digital and investor Thomas Lee.