US-based technology company Bitmine Immersion Technologies has added 101,745 Ethereum (ETH) to its holdings as of May 3, 2026, raising its total ETH portfolio to 5,180,131. With this latest accumulation, Bitmine now holds 4.29 percent of the total global ETH supply, a level that makes it one of the largest single institutional holders of Ethereum on the market.
Bitmine’s ETH accumulation strategy
Launched in June 2025, Bitmine’s Ethereum accumulation program initially focused on large-scale acquisitions. In the first 35 days alone, the company’s ETH holdings jumped from zero to over 833,000. Bitmine first entered the crypto market through Bitcoin, acquiring around 254 BTC in the early stages. By July 2025, the firm shifted its resources entirely toward Ethereum, collecting 566,000 ETH in three major transactions that month.
In the months that followed, persistent purchases steadily increased the company’s portfolio, surpassing 5 million ETH within ten months. According to Bitmine, this accumulation is part of a long-term vision. The company reports it has reached 86 percent of its self-imposed “5 percent Alchemy” target. To hit this benchmark, Bitmine still needs to acquire around 843,000 more ETH and, at the current pace, expects to reach this milestone in the next two months.
Bitmine’s current portfolio represents 4.29 percent of the total Ethereum supply. The company is continuing its regular weekly acquisitions to achieve its 5 percent goal.
As of May 3, 2026, Bitmine’s assets include 5,180,131 ETH, 200 Bitcoin, a $200 million equity stake in Beast Industries, an $83 million stake in Eightco Holdings, and $700 million in cash. The total value of its combined crypto, cash, and equity holdings now stands at $13.1 billion.
Staking returns and corporate structure
Out of its total Ethereum holdings, Bitmine has locked up 4,362,757 ETH through its own staking platform, MAVAN, and partner services. This staked figure accounts for 84 percent of Bitmine’s ETH assets and is currently valued at $10.2 billion. Annual income from staking activities is declared at $297 million.
MAVAN (Made in American Validator Network) was originally established to manage Bitmine’s internal assets. Over time, it has expanded services to institutional investors and ecosystem partners. Bitmine now claims to be the largest institutional ETH staker globally.
Market performance and major backers
Bitmine Immersion Technologies trades under the ticker BMNR on the New York Stock Exchange, having moved from NYSE American to the main exchange on April 9, 2026. Its daily average trading volume exceeds $625 million, ranking it as the 173rd most traded company in the United States.
Bitmine’s investor roster features prominent players such as Cathie Wood of ARK Invest, Founders Fund, Pantera Capital, Kraken, Digital Currency Group (DCG), Galaxy Digital, and individual investor Thomas Lee. With its innovative staking solutions and substantial ETH portfolio, Bitmine continues to attract significant attention in the cryptocurrency ecosystem.
