Bitmine Hits 4% Ethereum Supply as ETH Holdings Reach $12.9B

Bitmine (BMNR) now holds nearly 5 million Ethereum tokens, representing 4% of the total supply. Total assets reach $12.9 billion amid institutional backing.

The company’s total holdings have reached just under 5 million tokens, crossing the threshold of 4% of the entire circulating supply of Ethereum (120.7 million tokens).

The Connecticut-based firm, which trades on the New York Stock Exchange (NYSE) under the ticker BMNR, has already achieved 82% of its “Alchemy of 5%” target. This milestone comes just nine months after the launch of its accumulation strategy for the leading altcoin.

Total assets—comprising cryptocurrencies, cash reserves, and what the company describes as “moonshots” (high-risk investments with significant potential)—stand at $12.9 billion. This figure includes the accumulated ETH, $1.12 billion in cash reserves, and a $107 million equity stake in Eightco, one of the few publicly listed companies offering investors indirect exposure to OpenAI.

Staking at Scale

Of Bitmine’s nearly 5 million ETH, over 3.33 million tokens—valued at approximately $7.7 billion at current market prices—are actively staked through MAVAN, their proprietary validator network (Made in America Validator Network). The platform is designed for both internal use and institutional clients, with Bitmine emphasizing security and performance as core differentiators in a market where validator reliability is under increasing scrutiny.

These staking operations position the company as more than a passive holder; it is an active participant in the Ethereum Proof-of-Stake infrastructure. This approach generates yield while simultaneously removing supply from the market—a strategy few entities at this scale have managed to execute with such consistency.

Institutional Support and Market Presence

Bitmine’s purchasing activity is being watched closely by the industry’s biggest names. Supporters of the firm include Cathie Wood (ARK Invest), Founders Fund, Pantera Capital, Kraken, Galaxy Digital, and DCG—all aligned with the objective of securing 5% of the ETH supply.

This backing has helped BMNR become the 80th most actively traded stock in the U.S., with an average daily volume of $1.2 billion over the last five sessions. Bitmine highlights stock liquidity as a key competitive advantage over other companies with crypto reserves. They maintain that high turnover reflects both market confidence and institutional accessibility.

Since listing on the New York Stock Exchange on April 9, BMNR has attracted significant attention from traditional financial players seeking regulated exposure to Ethereum through the equity markets without the need to hold the asset directly.

With approximately 24,000 ETH remaining to cross the 5% threshold and purchasing momentum accelerating, Bitmine appears on track to reach its ambitious goal well ahead of the original schedule.