Bitmine Surpasses $11B in Crypto Holdings, Advances Towards 5% ETH Target

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.8 million tokens, making up 4.8% of the total ETH supply of 120.7 million.

The company's total crypto and cash holdings now stand at $11.3 billion, with a significant portion being held in staking operations through MAVAN (Made in America VAlidator Network).

According to Chairman Thomas 'Tom' Lee, Bitmine has made substantial progress towards its goal of acquiring 5% of the ETH supply, reaching 96% in just 13 months.

In July, Ethereum outperformed the Nasdaq 100 by 2,500 basis points, its largest outperformance since July 2025, reflecting strengthening fundamentals in crypto.