Bitmine Amasses 5.28M ETH as Total Holdings Hit $12.6 Billion

Bitmine Immersion Technologies now controls 4.37% of the Ethereum supply. With $12.6B in assets, the firm is positioning ETH as the backbone of institutional finance.

The company announced it now holds over 5.28 million ETH. This massive stake represents roughly 4.37% of the 120.7 million Ethereum tokens currently in circulation.

Recent data shows the firm snapped up 71,672 ETH in a single week. Bitmine viewed the altcoin’s dip below $2,200 as a prime entry point for aggressive buying.

With ETH hovering near $2,191, Bitmine’s total portfolio—a mix of crypto, cash, and high-growth investments—is valued at approximately $12.6 billion. The balance sheet extends beyond Ethereum; it features 202 BTC, $685 million in cash, a $200 million stake in Beast Industries, and an $83 million position in Eightco Holdings. This last holding is significant, providing rare public market exposure to OpenAI.

Since moving its primary listing to the NYSE under the ticker BMNR in April, the company has surged in popularity. It now ranks among the most actively traded U.S. stocks, with daily volume averaging $857 million over the past five sessions.

Ethereum’s Shift to Institutional Infrastructure

Chairman Tom Lee maintains that ETH is evolving into the essential plumbing for future financial services.

Lee identifies two structural shifts driving this change: the rapid tokenization of Wall Street assets and the rise of autonomous AI agents. Both trends require the neutral, public environment that only a blockchain like Ethereum provides.

Bitmine has already committed 4.71 million ETH to its proprietary MAVAN (Made in America VAlidator Network) platform. This accounts for more than 89% of its total reserves.

At current yields, the company projects its staking operations will pull in roughly $324 million in annual revenue once the network is fully operational.

According to Tom Lee, Bitmine has staked more ETH than any other entity on earth. This strategy transforms the firm from a passive holder into a systemically vital participant in the Ethereum ecosystem.

The Rise of the ETH Treasury Model

Analysts are increasingly drawing parallels between Bitmine and Michael Saylor’s MicroStrategy.

The firm is now the world’s largest public Ethereum treasury. Globally, it sits second only to MicroStrategy, which controls approximately 843,738 BTC.

Parallel to its buying spree, Bitmine is pushing for the passage of the CLARITY Act. The company views this legislation as the necessary foundation for a clear regulatory environment in the U.S.

Lee likens the potential impact of the CLARITY and GENIUS Acts to the 1971 departure from the gold standard—a pivot he believes triggered the modernization of global finance.

Investors are now tracking whether Bitmine will cross the 5% ownership threshold of the total ETH supply. Reaching that level would give a single public corporation unprecedented weight within the Ethereum network.