Bitmine Reaches 82% of Plan to Control 5% of Ethereum Supply

TLDR

• Bitmine has reached 82% of its target to control 5% of Ethereum’s total supply.
• The company added 101,627 ETH last week, bringing total holdings to about 5 million ETH.
• Bitmine values its Ether holdings at roughly $11.5 billion based on current market prices.
• The firm has staked over 3.3 million ETH, which represents 67% of its total holdings.
• Bitmine reported a 7-day annualized staking yield of 2.88%, above the network average rate.

Bitmine Immersion Technologies has reached 82% of its plan to control 5% of Ethereum’s total supply. The company disclosed Monday that it now holds about 5 million ETH valued at nearly $11.5 billion. The update places Bitmine among the largest corporate Ether holders as it accelerates accumulation.

Bitmine Accelerates Ethereum Accumulation Strategy

Bitmine purchased 101,627 ETH last week and increased its treasury balance to roughly 5 million ETH. The firm values those holdings at about $11.5 billion based on current market prices. Therefore, the company has completed 82% of its 5% global supply target.

The company projects it could meet the 5% goal by mid-summer 2026 at its current pace. However, executives said price changes and liquidity conditions could affect that timeline. Chairman Thomas “Tom” Lee said, “Recent trends suggest the mini crypto winter may be ending.”

Lee linked improving sentiment to easing downside risks tied to the US-Iran conflict. He said Ether has gained 41% from early February lows. He added that Ether has outperformed the S&P 500 by 2,280 basis points since the conflict began.

Lee stated that institutional tokenization and AI systems drive blockchain demand. He described Ether as a “wartime store of value” during periods of tension. He also said crypto winters since 2015 aligned with equity drawdowns of at least 20%.

He explained that the 2025 crypto decline tracked a 20% fall in the S&P 500. In contrast, he said equities fell only 8% in 2026. He concluded that current equity data suggests the downturn may end sooner than expected.

Staking Operations Expand as Yield Surpasses Network Average

Bitmine has staked over 3.3 million ETH through its MAVAN validator network and partner platforms. That figure represents 67% of its total Ether holdings. The company reported a 7-day annualized yield of 2.88%.

The yield exceeds the 2.76% Composite Ethereum Staking Rate. As a result, Bitmine estimates $221 million in annualized staking revenue. The firm projects $330 million in annualized revenue once it deploys all holdings.

Bitmine reported total assets of $12.9 billion across crypto, cash, and equity stakes. The company holds around $1.1 billion in cash reserves. It also owns a $200 million stake in Beast Industries.

The firm disclosed a $107 million position in Eightco Holdings. Eightco ranks among listed equities with direct OpenAI exposure. Bitmine stated that these investments diversify its treasury structure.

Bitmine ranks second globally among crypto treasury firms behind Strategy. It also ranks first among corporate Ether holders worldwide. The company uplisted its stock on the NYSE on April 9.

Over the past five days, shares averaged $1.2 billion in daily trading volume. That level places the stock 80th among US-listed equities by trading activity. The company released these figures in its latest corporate update Monday.

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