Bitmine Nears 5% of Ethereum Supply – Here Is Why Its Massive ETH Bet Is Turning Heads

• Bitmine now holds 5.67 million ETH, representing approximately 4.7% of Ethereum’s total supply.
• The company added more than 52,000 ETH in the past week and remains the world’s largest Ethereum treasury.
• Annual staking revenue is projected to exceed $223 million as Bitmine expands its institutional staking platform.

Bitmine is rapidly cementing its position as the dominant corporate Ethereum holder after revealing that its treasury has grown to 5,672,956 ETH. At current market prices, the company’s Ethereum holdings are worth nearly $10 billion and account for roughly 4.7% of Ethereum’s entire circulating supply.

The latest update highlights the aggressive pace of Bitmine’s accumulation strategy and reinforces its goal of becoming one of the most influential institutional players in the Ethereum ecosystem.

Bitmine Continues Buying Ethereum Aggressively

Over the past week alone, Bitmine acquired an additional 52,203 ETH, continuing a steady accumulation strategy that has defined much of 2026. The company has repeatedly stated that it views Ethereum as its primary treasury reserve asset and remains committed to increasing its exposure.

Chairman Tom Lee described the current environment as the early stages of a new “crypto spring,” arguing that tokenization, artificial intelligence, and blockchain adoption could drive substantial growth across the digital asset industry.

The continued buying has pushed Bitmine closer to its ambitious “Alchemy of 5%” target, a goal centered around controlling approximately 5% of Ethereum’s total supply.

Staking Has Become a Major Revenue Engine

Unlike many crypto treasury companies that simply hold digital assets, Bitmine has aggressively expanded its staking operations to generate recurring income.

The company disclosed that approximately 4.72 million ETH is currently staked, representing more than 83% of its total Ethereum holdings. At current participation levels, management projects annual staking revenue of approximately $223 million.

If all holdings eventually become fully staked through Bitmine’s infrastructure and partner network, projected annual staking rewards could rise to nearly $268 million.

This approach allows Bitmine to generate cash flow directly from its Ethereum position while maintaining long-term exposure to the asset.

MAVAN Expands Institutional Ambitions

A major part of Bitmine’s strategy revolves around MAVAN, its institutional-grade staking platform known as the Made-in-America Validator Network.

Originally developed to support the company’s own Ethereum treasury, MAVAN is now being positioned as a broader staking solution for institutional investors, custodians, and ecosystem partners

Management believes the platform can become a significant business segment on its own while strengthening Bitmine’s role within the Ethereum ecosystem.

The expansion reflects a broader trend where large crypto treasury companies are increasingly looking beyond simple asset accumulation and toward infrastructure-based revenue streams.

Bitmine Strengthens Its Financial Position

The company’s growth has been supported by successful capital raises. Earlier this month, Bitmine completed a preferred stock offering that generated approximately $274 million in net proceeds.

The Series A Preferred Stock, trading under the ticker BMNP, currently pays weekly cash dividends and has become a key financing tool for the company’s Ethereum-focused strategy.

In addition to its ETH holdings, Bitmine also maintains 205 Bitcoin, approximately $601 million in cash and marketable securities, and strategic investments in Beast Industries and Eightco Holdings.

Why Investors Are Watching Bitmine

Bitmine‘s transformation has been remarkable. Once primarily known as a Bitcoin mining company, it has evolved into what many now view as the premier Ethereum treasury vehicle in public markets.

The company currently ranks as the largest Ethereum treasury globally and the second-largest crypto treasury overall, behind only Strategy’s Bitcoin holdings.

Management believes upcoming regulatory developments, including the GENIUS Act and broader digital asset initiatives, could create opportunities similar to the transformation of traditional financial markets following the end of the Bretton Woods system decades ago.

Whether those predictions prove accurate remains to be seen, but one thing is clear: Bitmine’s massive Ethereum accumulation strategy is positioning the company as one of the most influential institutional players in the crypto industry.

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