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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% of Ethereum Supply With $11.8 Billion Treasury

What happened: Bitmine (BMNR) now holds 5.

Bitmine Nears 5% of Ethereum Supply With $11.8 Billion Treasury

What happened: Bitmine (BMNR) now holds 5.79 million ETH, representing 4.8% of Ethereum's circulating supply, with a total treasury of $11.8 billion. The company has also accumulated 208 BTC (~$13.6M), $268 million in cash and securities, and stakes in Beast Industries and Eightco Holdings. Bitmine has staked 4.9 million ETH through MAVAN, projecting annualized staking rewards of $299 million once fully deployed. The firm has repurchased 11.6 million shares since July 1 as part of a $4 billion buyback program. Bitmine stock rose 13% on the news.

Why it matters: Bitmine's aggressive accumulation and staking of ETH signal institutional confidence in Ethereum's long-term prospects, even as ETH trades well below previous highs. The pivot from ETH purchases to share buybacks may indicate a near-term cap on further accumulation, or a strategic shift to reward shareholders. With Bitmine approaching its self-imposed 5% threshold, market watchers are closely monitoring potential impacts on liquidity, staking yields, and governance dynamics within the Ethereum ecosystem.

Source: Decrypt