Bitmine Goes on a Frenzy, Buying 126,000 ETH—Total Open Holdings Surpass 5.54 Million! It May Be in Control of 5% of Ethereum’s Supply by the End of the Year

U.S.-listed company Bitmine Immersion Technologies (NYSE: BMNR) released its latest announcement on the 8th Eastern Time, stating that the company aggressively increased its holdings by 126,971 Ether (ETH) last week. Its total ETH holdings have now surpassed 5.54 million, accounting for 4.59% of the network’s total supply. Combined with cash and other early-stage venture investments, Bitmine’s treasury has a total value of up to $9.6 billion, firmly placing it as the world’s largest “Ethereum Treasury.”
(Backgrounder: DWF founder warns: Strategy and BitMine are likely to trigger the largest-scale chain liquidation in cryptocurrency history)
(Additional context: Bitmine is unafraid of plunging prices and continues to add to Ethereum! Expands issuance of $270 million in preferred shares: all-in on ETH and staking infrastructure)

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• Total holdings surpass 5.54 million ETH, treasury value nearing $10 billion
• Raking in passive income! More than 85% of holdings put into staking
• Executives bullish on AI driving blockchain demand

The strategic shift of U.S. cryptocurrency mining companies into “Ethereum Treasuries” is progressing at an astonishing pace. Bitmine Immersion Technologies (NYSE: BMNR) released its latest asset reserve report on June 8, 2026, announcing that during last week’s market pullback, the company once again significantly increased its holdings of 126,971 Ether (ETH). With this additional buy, the company is quickly closing in on its ultimate goal of holding 5% of all ETH on the network.

Total holdings surpass 5.54 million ETH, treasury value nearing $10 billion

According to the official announcement, as of 3:00 p.m. Eastern Time on June 7, 2026, Bitmine’s total ETH holdings have reached as many as 5,543,872 coins. Based on a price of $1,630 per ETH, the value is approximately $9.04 billion. This means the amount of ETH the company holds reaches 4.59% of Ethereum’s total supply (about 120.7 million ETH).

In addition to its massive Ethereum assets, Bitmine’s balance sheet also includes 204 Bitcoin (BTC), $247 million in cash, and “Moonshots” startup investments valued at nearly $268 million (including stakes in Beast Industries and holdings in Eightco Holdings, a publicly listed company that has indirect exposure to OpenAI). Overall, Bitmine’s treasury has a total value of as much as $9.6 billion, making it the second-largest cryptocurrency treasury globally, second only to MicroStrategy (Strategy Inc.).

Raking in passive income! More than 85% of holdings put into staking

As the industry’s highly watched “Ethereum MicroStrategy,” Bitmine does not merely lock ETH in cold wallets. The report notes that the company has currently staked as many as 4,718,677 ETH through its proprietary institutional validator network platform, “MAVAN,” accounting for more than 85% of its total holdings.

Based on the current 2.99% seven-day annualized yield, this large staked asset is expected to generate about $270 million in passive income for the company each year (at present, the actual annualized yield is about $230 million). The official source reveals that the MAVAN platform, which focuses on security and performance, is currently used only for internal assets, but it plans in the future to fully open up to external institutional investors, further expanding its business footprint and ecosystem influence.

Executives bullish on AI driving blockchain demand

In response to recent volatility and declines in the cryptocurrency market, Bitmine Chairman Thomas “Tom” Lee appears quite optimistic. He said that the recent market drop is merely a “surface phenomenon,” and as agentic AI (Agentic AI) and Wall Street tokenization technology develop rapidly, market demand for decentralized, highly resilient public neutral blockchains (such as Ethereum) will grow explosively.

Bitmine’s official statement emphasizes that its grand strategy, dubbed “Alchemy of 5%,” has reached 92% progress within just 11 months. As the company continues to issue preferred shares in public markets to raise funds and invest in the ecosystem, Bitmine expects to officially achieve the historic milestone of holding 5% of global ETH by the end of 2026, which will undoubtedly have a profound impact on Ethereum’s future liquidity and market pricing.