Bitmine’s ETH Holdings Surge Past 5M: $13B Crypto Empire Grows

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Bitmine adds 101,745 <a href="https://jpyeur.com/eth-usd/">ETH</a> as holdings hit 5.18m tokens

Bitmine Immersion Technologies said its Ethereum holdings reached 5,180,131 ETH as of May 3. 

Summary

  • Bitmine added 101,745 ETH last week, pushing total Ethereum holdings to 5.18 million tokens now.
  • Staked ETH reached 4.36 million tokens, giving Bitmine about $10.2 billion in staked assets.
  • Ethereum Foundation sales added context as Bitmine moved closer to its 5% ETH supply target.

The company estimated the value of its holdings at $2,336 per Ethereum and stated that this represents approximately 4.29% of all Ethereum in circulation.

The company reported total holdings of $13.1 billion, including cryptocurrencies, cash, and other investments. This breaks down to 5.18 million ETH, 200 Bitcoin, $700 million in cash, a $200 million investment in Beast Industries, and an $83 million investment in Eightco Holdings.

Tom Lee says ETH buying pace continued

Bitmine purchased over 101,000 ETH in the last week, according to Chairman Tom Lee. He explained that this purchase is part of the company’s plan to steadily build its Ethereum holdings.

Lee noted that Bitmine had been buying Ethereum at an increased rate for the past four weeks. He believes Ethereum is nearing the end of a recent downturn, and explained this purchasing strategy is linked to Ethereum’s growing importance in tokenization and its use as a public blockchain.

As of May 3rd, Bitmine reported having 4,362,757 ETH staked. Using a price of $2,336 per ETH, they valued this staked amount at approximately $10.2 billion.

The company explained that its MAVAN platform—which stands for Made in America Validator Network—was created to manage its Ethereum holdings. Bitmine also stated that the platform is designed to help institutions, custodians, and other partners access Ethereum staking services.

Lee announced that Bitmine earned $297 million in staking revenue over the past year. He also noted that over 84% of the company’s total Ethereum holdings – 5.18 million ETH – is currently being staked.

Ethereum Foundation sales add context

Bitmine recently received another large Ethereum sale from the Ethereum Foundation. According to Crypto.news, the foundation sold 10,000 ETH to Bitmine for an average of $2,292 each, totaling around $22.9 million.

According to the report, this marks the third time in two months the foundation has sold ETH directly to Bitmine. This recent sale follows another transaction of 10,000 ETH just last week, and a 5,000 ETH sale that occurred in March.

According to a report from Crypto.news and data tracked by Arkham, Bitmine recently staked approximately $508 million in ETH. This brought their total ETH holdings to over 5 million tokens, making them one of the biggest institutional holders of Ethereum.

Bitmine continues to hold the largest Ethereum reserves and is the second-largest crypto treasury worldwide, after Strategy. They’ve also reached 86% of their target to own 5% of all Ethereum in circulation.

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2026-05-04 16:03