Bitmine (BMNR) Stock: ETH Holdings Hit 5.70M as Crypto Assets Reach $9.8B

TLDR

• BMNR rose 1.80% as Bitmine’s ETH holdings reached 5.70M tokens.

• Bitmine’s crypto, cash and securities holdings climbed to $9.8B.

  

• The company now owns 4.7% of Ethereum’s total token supply.

• Bitmine staked 4.88M ETH through MAVAN and staking partners.

• BMNR joined the Russell 1000 as preferred stock trades under BMNP.

Bitmine Immersion Technologies (BMNR) reported $9.8 billion in crypto, cash, marketable securities, and related holdings. BMNR closed at $13.56, up 1.80%, after a volatile trading session. The stock briefly touched $13.97 before it pulled back and steadied into the close.

Bitmine Immersion Technologies, Inc., BMNR

Bitmine Expands ETH Position

Bitmine said its Ethereum holdings reached 5,700,040 ETH as of June 28, 2026. The company valued the holdings using an ETH price of $1,569. That position represents 4.7% of Ethereum’s total 120.7 million token supply.

The company has built the position over 11 months through steady accumulation. It said it now stands 94% toward its target of owning 5% of ETH. During the latest week, Bitmine added 27,084 ETH to its treasury.

Bitmine remains the largest Ethereum treasury company by reported holdings. It also ranks as the second-largest global crypto treasury behind Strategy. Strategy reportedly owns 847,363 Bitcoin, valued at about $50 billion.

Staked ETH Supports MAVAN Platform

Bitmine also reported 4,879,157 staked ETH through its staking operations and partners. The company valued those staked tokens at about $7.7 billion. That amount equals more than 85% of its total Ethereum holdings.

The company launched MAVAN, or Made in America Validator Network, as its institutional staking platform. Bitmine designed MAVAN to support its Ethereum treasury first. However, it plans to serve custodians, institutions, and ecosystem partners through the platform.

Bitmine said its staking operations generated a 2.75% annualized seven-day yield. The company projected annualized staking revenue of $211 million from current staked ETH. At full scale, it expects staking rewards to reach about $246 million annually.

BMNR Adds Index Exposure and Preferred Stock

Bitmine joined the Russell 1000 Large-cap Index on June 26, 2026. The inclusion came during the index’s annual reconstitution. The company expects the move to expand its institutional shareholder base through passive funds and ETFs.

The company also completed a preferred stock offering earlier in June. It sold 3.5 million shares of 9.50% Series A Perpetual Preferred Stock. Bitmine received about $273.8 million in net proceeds after fees and expenses.

The preferred stock now trades on the NYSE under the ticker BMNP. Bitmine also listed $555 million in cash and marketable securities. Its wider holdings include 206 Bitcoin, Eightco stock, and a $180 million stake in Beast Industries.

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