W3BStation
Markets
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/28/2026

BitMine Nears 5% Ethereum Supply With $11.8 Billion Treasury

What happened: BitMine Immersion Technologies (BMNR) now holds 5,787,414 ETH—about 4.

BitMine Nears 5% Ethereum Supply With $11.8 Billion Treasury

What happened: BitMine Immersion Technologies (BMNR) now holds 5,787,414 ETH—about 4.8% of Ethereum's circulating supply—valued at roughly $11.8 billion. The company acquired nearly 10,000 ETH last week and is just 247,586 ETH short of its 5% supply goal. BitMine has also expanded its staking operations, with 4.92 million ETH staked via its MAVAN platform, generating projected annualized staking revenue between $254 million and $299 million. The firm repurchased 6.1 million shares last week as part of an ongoing $4 billion buyback program.

Why it matters: BitMine's aggressive accumulation and staking strategy positions it as a major force in Ethereum's ecosystem, rivaling even some institutional treasuries. The scale of its ETH holdings and staking operations could influence network governance and liquidity. The company's actions reflect growing institutional confidence in Ethereum, especially as the ETH/BTC ratio hits a three-month high and ETH posts a 24% monthly gain.

Source: Decrypt