@BitMNR has reported total Ethereum holdings of 5,416,901 $ETH, representing 4.49% of the token's circulating supply of 120.7 million coins. The firm is now 90% of the way toward what it call
@BitMNR has reported total Ethereum holdings of 5,416,901 $ETH, representing 4.49% of the token's circulating supply of 120.7 million coins. The firm is now 90% of the way toward what it calls the "Alchemy of 5%," a target that would make Bitmine the single largest corporate holder of $ETH by a significant margin.
The latest figures, disclosed in a company filing covering holdings as of May 31, 2026, show total crypto, cash, and investment assets of $11.6 billion, including 5,416,901 ETH valued at $2,003 per coin, 203 Bitcoin, a $180 million stake in Beast Industries, a $93 million stake in Eightco Holdings, and $446 million in cash.
Over the prior week, the company acquired 26,497 ETH, with Chairman Tom Lee stating that ETH prices are not yet reflecting the strengthening of Ethereum fundamentals, and adding that Bitmine expects to reach the "Alchemy of 5%" sometime in 2026.
The accumulation strategy has been aggressive. Bitmine has turned itself into the most aggressive public-company Ethereum treasury play in the market, building its position across just over 11 months. The company's accumulation has been backed by institutional investors including ARK Invest's Cathie Wood, Peter Thiel's Founders Fund, Pantera, Galaxy Digital, and DCG.
Alongside its buying program, Bitmine has moved to monetise its holdings through MAVAN, the Made in America VAlidator Network. MAVAN is Bitmine's institutional-grade staking platform, originally developed to support the firm's own Ethereum treasury, with plans to expand to serve institutional investors, custodians, and ecosystem partners.
As of May 31, 2026, Bitmine's total staked ETH stands at 4,718,677, valued at approximately $9.5 billion at $2,003 per ETH.At scale, when Bitmine's ETH is fully staked by MAVAN and its staking partners, projected ETH staking rewards are $296 million on an annualized basis, based on a 2.73% seven-day yield.
MAVAN fits a broader pattern taking hold among large digital asset holders: vertical integration of staking and validation capabilities. Rather than outsourcing those functions to third-party operators, Bitmine is converting the infrastructure into an external revenue stream, effectively monetising the operational layer required to manage its own treasury.
SourcesBitmine SEC Form 8-K Filing, May 31, 2026 (U.S. Securities and Exchange Commission)Bitmine Doubles Down on Ethereum With $237M Dip Buy, Crypto TimesBitMine Launches Proprietary Ethereum Validator Network MAVAN, The Defiant
