- Bitmine added 26,497 ETH last week, increasing holdings to 5,416,901 ETH, or about 4.49% of Ethereum’s circulating supply.
- More than 4.7 million ETH are staked through Bitmine’s MAVAN platform, generating an annualized yield of 2.73%.
- Chairman Tom Lee said the company remains on track to reach its 5% Ethereum supply target during 2026.
Bitmine Immersion Technologies moved closer to its goal of owning 5% of Ethereum’s supply after adding 26,497 ETH last week. The purchase, disclosed this week by Chairman Tom Lee, lifted the company’s holdings to 5,416,901 ETH worth about $10.85 billion, representing 4.49% of circulating supply and placing the firm roughly 90% toward its stated target.
Treasury Growth Continues At Slower Pace
The latest acquisition carried an estimated value of $53 million based on an ETH price near $2,003. However, the purchase marked a slower accumulation pace than previous weeks.
Earlier, Bitmine acquired between 111,942 and 120,000 ETH in a single week. According to Tom Lee, the company is now placing greater emphasis on generating staking income from existing holdings.
Lee stated that ETH prices do not currently reflect what he described as strengthening Ethereum fundamentals. He also reiterated that Bitmine expects to reach its 5% ownership target during 2026.
As holdings expanded, the company’s position grew into one of the largest Ethereum treasuries in the market.
Staking Operation Drives Revenue Strategy
Of Bitmine’s 5.42 million ETH holdings, 4,718,677 ETH are actively staked through its MAVAN platform. That figure represents approximately 87% of the company’s Ethereum reserves.
According to the company, the staking operation currently generates a seven-day annualized yield of 2.73%. Bitmine projects annualized staking revenue of $258 million based on current deployment levels.
The company expects that figure to rise toward $296 million as additional holdings enter staking programs. Meanwhile, Bitmine stated that its staked ETH holdings are worth approximately $9.5 billion.
Institutional Backing Supports Expansion
Beyond Ethereum, Bitmine reported total assets of approximately $11.6 billion. The portfolio includes 203 Bitcoin, $446 million in cash, a stake in Beast Industries, and an investment in Eightco Holdings.
The company counts Ark Invest, Pantera Capital, Founders Fund, Bill Miller III, Kraken, Digital Currency Group, Galaxy Digital, and Tom Lee among its backers.
According to company figures, Bitmine remains the largest public Ethereum treasury. It also ranks as the second-largest digital asset treasury company behind Strategy’s Bitcoin-focused holdings.
