Bitmine Surpasses 6 Million ETH Holdings Amid Crypto Bull Market

Bitmine Immersion Technologies (BMNR) recently announced that its Ethereum holdings have surpassed 5.98 million tokens, accounting for a significant 4.9% of the total ETH supply of 122.1 million.

The company's crypto and cash holdings now total $17.1 billion, with $714 million in total cash and marketable securities.

Bitmine's Chairman, Tom Lee, stated that 'a crypto bull market is underway,' driven by factors such as the rotation from AI back to crypto, strengthening crypto fundamentals, and the ending of a 4-year cycle.

The company's ETH holdings are staked on its institutional-grade staking platform, MAVAN, with an annualized staking revenue projected at $357 million.

Bitmine has been acquiring ETH every week since June 30, 2025, and has traded a daily average of $1.2 billion in the last five days, ranking #100 in the US behind Eaton Corp and ahead of Ciena Corp among 5,704 US-listed stocks.