Bitmine Immersion Technologies Announces ETH Holdings Surpass 5.18 Million Tokens and Total Crypto and Cash Assets Reach $13.1 Billion
Norwalk, Conn., May 4, 2026 – Bitmine Immersion Technologies, Inc. (NYSE: BMNR), a leading Bitcoin miner and Ethereum network company focusing on long-term crypto investment accumulation, today announced that its Ethereum (ETH) holdings have reached over 5.18 million tokens. Combined with its total cryptocurrency and cash assets, Bitmine’s portfolio now amounts to approximately $13.1 billion.
As of May 3, 2026, at 4:30 pm ET, Bitmine’s crypto treasury includes 5,180,131 ETH tokens valued at $2,336 per ETH, representing about 4.29% of the total circulating supply of Ethereum, which stands at 120.7 million ETH. In addition to Ethereum, the company holds 200 Bitcoin (BTC), a $200 million stake in Beast Industries, and an $83 million investment in Eightco Holdings (NASDAQ: ORBS), the latter providing indirect exposure to OpenAI. Bitmine also maintains $700 million in cash reserves.
Major Milestones and Market Position
In a significant corporate development, Bitmine uplisted its shares from the NYSE American to the New York Stock Exchange (NYSE) on April 9, 2026, continuing to trade under the ticker symbol “BMNR.” The company is recognized as the premier ETH treasury worldwide and the second largest global crypto treasury, ranked behind Strategy Inc. (NASDAQ: MSTR), holder of approximately 818,334 BTC valued at $64.2 billion.
Bitmine’s stock has garnered notable market traction, ranking as the 173rd most traded stock in the United States with an average daily trading volume of $625 million over the past five days, placing it among prominent public companies including Cheniere Energy and DoorDash.
Strategic Vision and Market Insights
Thomas “Tom” Lee, Chairman of Bitmine, highlighted recent regulatory developments and market dynamics: “The U.S. Senate’s release of the CLARITY Act compromise, though restricting stablecoin yield on reserves, allows for activity-based rewards, which seems a balanced approach to safeguarding traditional banks while enabling crypto innovators. Prediction markets now assign over a 60% chance for this bill’s passage in 2026.”
Lee described the current market environment as the commencement of “Crypto Spring,” a phase typically marked by muted investor sentiment despite strengthening crypto prices. “Ethereum benefits from powerful tailwinds, including Wall Street’s growing adoption of blockchain tokenization and the rise of agentic AI systems requiring public, neutral blockchains,” he explained.
Noting Ethereum’s performance, Lee stated, “ETH remains the most reliable smart contract blockchain, essential for tokenization and the emerging agentic commerce ecosystem. Since the onset of the Iran War, ETH has outperformed the S&P 500 by 13.8 percentage points, maintaining its status as one of the world’s top-performing assets aside from crude oil.”
Staking Initiatives and Infrastructure Expansion
Bitmine’s aggressive ETH accumulation continues, with the company purchasing 101,745 new ETH in the past week alone, driven by a belief that the cryptocurrency is in the concluding phase of a “mini-crypto winter.”
Central to Bitmine’s strategy is MAVAN (Made in America Validator Network), an institutional-grade Ethereum staking platform launched in 2026. Initially developed to support Bitmine’s own Ethereum treasury, MAVAN aims to serve institutional investors, custodians, and partners requiring robust, secure staking infrastructure.
Currently, Bitmine has staked approximately 4,362,757 ETH—valued at $10.2 billion—via MAVAN and its staking partners. This figure comprises more than 84% of Bitmine’s Ethereum holdings. The staking operation currently yields an annualized return of 2.91%, generating about $297 million in yearly staking revenue. Projected fully scaled staking rewards are estimated at $352 million annually.
Institutional Backing and Forward Outlook
Bitmine’s treasury strategy is supported by a distinguished group of institutional investors including ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, Galaxy Digital, Kraken, and notable market analyst Thomas “Tom” Lee. The company pursues its ambitious “Alchemy of 5%” objective, aiming to accumulate 5% of the total Ethereum supply.
“The GENIUS Act and the SEC’s Project Crypto represent transformative milestones for financial services, comparable to the 1971 dismantling of the gold standard that ushered in modern Wall Street,” Lee added. “Bitmine stands poised to be at the forefront of this financial revolution through its innovative treasury and staking strategies.”
About Bitmine Immersion Technologies
Bitmine Immersion Technologies (NYSE: BMNR) is a US-based Bitcoin miner expanding its footprint by becoming the world’s leading Ethereum treasury company. The company’s strategy focuses on acquiring Ethereum as its primary treasury reserve asset, leveraging protocol-level activities like staking and decentralized finance to maximize value. In 2026, Bitmine launched MAVAN, a dedicated staking platform designed to provide institutional-grade infrastructure for Ethereum staking.
For more information about Bitmine’s corporate updates and financial presentations, visit:
- Chairman’s message: https://www.Bitminetech.io/chairmans-message
- Investor Relations: https://Bitminetech.io/investor-relations/
- Contact: https://Bitminetech.io/contact-us/
Follow Bitmine on social media: https://x.com/bitmnr
Forward-looking statements in this release involve risks and uncertainties. Actual results may vary based on market conditions, regulatory developments, and company execution.