The company now holds more than 4% of Ethereum’s total supply.
BitMine Immersion Technologies has continued its aggressive Ethereum buying spree. Over the past week, the company acquired 101,745 ETH▲$1,792.23 worth approximately $237.7M to $242M.
Hot topic: Bitcoin on May 5 — BTC Price Hits New Local High Above $81K
Total reserves reached 5,180,131 ETH, representing 4.29% of Ethereum’s (ETH) total supply.
BitMine now ranks first among public companies in Ethereum holdings and second among all crypto treasuries worldwide, trailing only Strategy with its bitcoin reserve.
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Goal and Accumulation Strategy
The company remains committed to its plan of reaching a 5% market share. Approximately 84% of all accumulated coins, 4.36 million ETH, are already staked through its proprietary MAVAN platform. This generates roughly $297M in annual income at the current rate of 2.91%.
BitMine’s total reserve value, including cash and stakes in other projects, is estimated at $13.1B. Beyond Ethereum, the company holds 200 Bitcoin (BTC), stakes in Beast Industries and Eightco Holdings, and $700M in cash.
Read more: Aave Asks Court to Lift Restraint on $73M in ETH After Kelp DAO Hack
Tom Lee: “We Are Entering Crypto Spring”
BitMine Chairman Tom Lee called the current period the end of the “mini-crypto winter” and the beginning of a new growth phase. According to him, demand for Ethereum will grow through the tokenization of traditional assets and the development of AI systems that require public blockchains.
Public Company Market Context
In the Q1 of 2026, public companies purchased 50,351 BTC, increasing their total holdings to 1.15 million BTC, or 5.47% of supply. Strategy made the primary contribution, acquiring approximately 89,000 BTC. Meanwhile, public miners sold more than 32,000 BTC to cover expenses.
Learn more: Ethereum Analysis May 2026 — Vitalik Buterin, ETH Accumulation & Bullish Price Forecast
