Bitmine's Ethereum Holdings Soar to 5.8 Million Tokens

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

The company's total crypto and cash holdings now total $11.3 billion, with a significant portion allocated to Ethereum staking.

As of August 2, 2026, Bitmine has staked over 4.9 million ETH on its institutional-grade staking platform MAVAN (Made in America VAlidator Network), generating an estimated annualized staking revenue of $247 million.

The company's Chairman, Thomas 'Tom' Lee, stated that the current outperformance of Ethereum against the Nasdaq 100 is reflective of the strengthening fundamentals of crypto and has historically been followed by Bitmine shares outperforming ETH in subsequent months.