Bitmine nears 5% of Ethereum supply with $14.8B ETH

Bitmine now holds 5.93 million ETH, or 4.9% of supply, after buying 28,086 ETH. Over 5 million ETH are staked, with projected annual staking revenue of $330 million.

Bitmine Immersion Technologies increased its Ethereum holdings by 28,086 ETH last week, bringing its total to 5,929,198 ETH. At a price of $2,495 per ETH, this stash is valued at approximately $14.8 billion. Bitmine now controls about 4.9% of Ethereum’s total supply, moving closer to its 5% accumulation goal. Over 5.06 million ETH are staked through the MAVAN platform and partners, generating projected annualized staking revenues of $330 million at a 2.61% yield. Bitmine’s total assets, including other cryptocurrencies, cash, marketable securities, and equity stakes, have reached $15.7 billion. The company’s recent purchases extend a buying streak that began in June 2025, making Bitmine the largest publicly listed Ether treasury. Its stock trades near net asset value, with analysts raising the price target to $30. However, Bitmine currently faces $5.1 billion in unrealized losses on its ETH holdings due to recent price declines.