Bitmine Nears 5% ETH Target with $10.7B in Crypto Holdings

Bitmine Immersion Technologies (BMNR) announced its Ethereum holdings have reached 4.732 million tokens, accounting for 3.92% of the ETH supply.

The company's total crypto and cash holdings now stand at $10.7 billion, with a significant portion invested in staking through MAVAN (Made-in America VAlidator Network), its institutional-grade staking platform.

MAVAN, launched on March 25, 2026, has seen Bitmine's total staked ETH reach 3.142 million tokens, valued at $6.3 billion at the current market price of $2,005 per ETH.

Bitmine's Chairman Thomas 'Tom' Lee emphasized that the company's goal is to acquire 5% of the ETH token supply, citing the potential benefits of staking and decentralized finance mechanisms.