Bitmine Surpasses $11B in Crypto Holdings, Nears 5% ETH Goal

Bitmine Immersion Technologies (BMNR) has announced its crypto and total cash holdings have reached $11.8 billion. The company's Ethereum (ETH) holdings are a significant portion of this total, with 5.79 million tokens valued at approximately $9.6 billion. This represents 4.8% of the total ETH coin supply, which stands at 120.7 million.

Bitmine is nearing its goal of acquiring 5% of the ETH supply, also known as 'the Alchemy of 5%'. The company has staked 4.9 million ETH on the MAVAN platform, generating a 7-day yield of 2.65%. This represents $299 million in projected annualized staking rewards.

Bitmine's Chairman, Thomas 'Tom' Lee, stated that the company views the rising ETH/BTC ratio as a sign that crypto prices are strengthening. He also noted that Bitmine has repurchased 11.6 million shares of common stock under its $4 billion share repurchase program since July 1, 2026.