Bitmine Surpasses 5 Million ETH Holdings Amid Ethereum Price Surge

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.85 million tokens, representing 4.8% of the total ETH supply of 120.7 million. This milestone comes just 14 months after Bitmine's 'Alchemy of 5%' initiative began.

The company's total crypto and cash holdings now total $14.9 billion, with ETH holdings valued at approximately $12.4 billion. Bitmine's staking operations have generated a 2.67% annualized yield, with projected rewards of $381 million at scale.

Bitmine management believes that the recent surge in Ethereum prices, up 30% over the past week, is a sign of a larger move to come. This comes after precedent instances in May 2025 and July 2021 saw similar gains followed by subsequent increases of +170% and +167%, respectively.

Bitmine remains supported by a premier group of institutional investors, including ARK's Cathie Wood and Pantera Capital. The company continues to expand its blockchain infrastructure capabilities, with the launch of MAVAN (Made in America VAlidator Network), an institutional-grade staking platform.