Bitmine Immersion Technologies (BMNR) has announced significant growth in its Ethereum (ETH) holdings, now totaling 6.03 million tokens. This positions the company as the largest ETH treasury globally, owning 4.9% of the total ETH supply. The company is nearing its 'Alchemy of 5%' goal, a milestone it expects to reach in just 15 months.
In a Chairman's Message released on October 7, Bitmine highlighted its strategic positioning ahead of what it describes as a potential 'largest crypto bull market.' The message emphasizes the company's consistent accumulation of ETH, particularly during the crypto bear market of 2025-2026. Bitmine's total crypto and cash holdings, including 'moonshots,' now amount to $16.2 billion.
Bitmine's Series A Preferred Stock (BMNP) has shown strong performance, gaining 24% since its issuance in June 2026. The company's staking platform, MAVAN, has also seen substantial growth, with 5.07 million ETH staked, representing $12.9 billion at the current ETH price of $2,544. The platform is a premier destination for institutional investors seeking Ethereum staking services.
Supporting Bitmine's ambitions are a group of prominent institutional investors, including ARK's Cathie Wood, Founders Fund, and Thomas 'Tom' Lee. The company's strategic moves, such as its inclusion in the Russell 1000 Large-cap index and its stake in Eightco Holdings (NASDAQ: ORBS), reflect its broader goals in the crypto space.