Here’s How Close Bitmine Is to Owning 5% of Ethereum

Add TechGaged as your preferred source on Google

See more TechGaged stories across Google News and Discover.

Add

Blockchain platform Bitmine Immersion Technologies has expanded its Ethereum (ETH) treasury once again, and pushed its holdings to more than 5.62 million ETH after buying another 76,881 ETH during the past week. The company now controls approximately 4.66% of Ethereum’s circulating supply, which further cements its position as the world’s largest corporate Ethereum treasury. At the same time, Bitmine says its total crypto holdings, cash, and strategic investments have grown to $10.4 billion.

Bitmine Nears 5% of Ethereum Supply

According to the company’s latest weekly update shared on June 15, Bitmine held 5,620,754 ETH as of June 14, alongside 204 Bitcoin (BTC), $502 million in cash and marketable securities, a $180 million stake in media company Beast Industries, and an $88 million investment in holding firm Eightco Holdings.

Management said it purchased 76,881 ETH over the past week, and maintained what Chairman Tom Lee described as an elevated pace of buying during the recent pullback in Ethereum prices. Lee argued that Ethereum’s long-term fundamentals continue improving thanks to growing tokenization activity on Wall Street and increasing demand for public blockchains from AI applications.

Latest Stories

3 min read • 19 minutes ago

$14 Trillion BlackRock Just Launched Its Next Bitcoin ETF

5 min read • 1 hour ago

Arman Tsarukyan Turns $1 Million Into $5.7 Million on Jack.com After One of the Biggest UFC Upsets of the Year

3 min read • 2 hours ago

Bitwise Adds Another $5.18M in HYPE — Is Institutional Demand Rising?

Read all latest stories →

The latest purchases leave Bitmine just short of its long-term objective of accumulating 5% of Ethereum’s total supply, a milestone the company calls its “Alchemy of 5%” strategy and hopes to achieve “sometime in 2026,” in Lee’s words.

Meanwhile, Ethereum was at press time on June 16 changing hands at $1,815.65, up 2.4% on the day and 8.6% over the week, but down 17.1% across the past month, according to the most recent price chart information.

More Than 4.7 Million ETH Already Staked

Bitmine also reported that it has staked 4,718,677 ETH across its validator infrastructure, which represents about 84% of its total holdings. Based on the company’s reported figures, those assets generate an estimated $226 million in annualized staking revenue at current yields, and management projects around $269 million annually once it stakes nearly all of its ETH.

The company said staking operations currently generate a 2.79% seven-day annualized yield with support from MAVAN (the Made in American VAlidator Network), its institutional Ethereum validator platform launched earlier this year.

Separately, Bitmine noted that its recently completed preferred stock offering raised approximately $274 million in net proceeds, whereas its new BMNP preferred shares will begin trading on the NYSE on June 16.

Bitmine added that it’s now part of Fortune’s Crypto 100 ranking for 2026 and continues to rank among the most actively traded stocks in the United States as it expands its Ethereum-focused treasury strategy.