Bitmine Immersion Technologies has added another large amount of Ethereum to its corporate treasury.<\/p>\n\n\n\n
The company said its Ethereum holdings reached 5,278,462 ETH<\/strong> as of May 17 at 4:00 p.m. ET<\/strong>. Bitmine valued the position at $2,191 per ETH<\/strong>, bringing its total ETH stash to around 4.37% of Ethereum\u2019s total supply<\/strong>.<\/p>\n\n\n\n The latest update shows that Bitmine bought 71,672 ETH<\/strong> in just one week. Chairman Thomas \u201cTom\u201d Lee<\/strong> said the recent pullback below the $2,200<\/strong> level made Ethereum attractive for the company\u2019s long-term treasury strategy.<\/p>\n\n\n\n Bitmine is working toward a major goal called the \u201cAlchemy of 5%\u201d<\/strong> plan. Under this strategy, the company wants to acquire 5% of Ethereum\u2019s total supply<\/strong> over time.<\/p>\n\n\n\n With its holdings now at 5.28 million ETH<\/strong>, Bitmine says it is about 87% of the way<\/strong> toward that target. This makes the company one of the most aggressive public buyers of Ethereum.<\/p>\n\n\n\n The Bitmine Ethereum treasury<\/strong> strategy shows how some companies are treating ETH as a long-term reserve asset, similar to how Strategy built its treasury around Bitcoin.<\/p>\n\n\n\n Bitmine is not only holding Ethereum. It is also staking most of its ETH.<\/p>\n\n\n\n The company said it has staked 4,712,917 ETH<\/strong>, worth about $10.3 billion<\/strong> using the same $2,191 ETH price. That means more than 89%<\/strong> of its total Ethereum position is now earning staking rewards.<\/p>\n\n\n\n According to Lee, Bitmine\u2019s annualized staking revenue has reached around $289 million<\/strong>. He also said that if the company fully stakes its ETH through MAVAN<\/strong> and partner platforms, annual staking rewards could rise to about $324 million<\/strong>, based on a 2.80% seven-day annualized yield<\/strong>.<\/p>\n\n\n\n Bitmine recently launched MAVAN<\/strong>, short for Made in America Validator Network<\/strong>.<\/p>\n\n\n\n The platform was originally built to support Bitmine\u2019s own Ethereum treasury. However, the company said MAVAN may later serve institutions, custodians, and Ethereum ecosystem partners.<\/p>\n\n\n\n This gives Bitmine a more direct role in Ethereum staking infrastructure. Instead of simply holding ETH, the company is trying to build a system around its treasury that can generate yield and potentially support other large market participants.<\/p>\n\n\n\n Bitmine says it is now the largest Ethereum treasury and the second-largest global crypto treasury after Strategy.<\/p>\n\n\n\n Alongside its ETH position, the company also holds 202 Bitcoin<\/strong>, $685 million in cash<\/strong>, a $200 million stake in Beast Industries<\/strong>, and an $83 million stake in Eightco<\/strong>.<\/p>\n\n\n\n This makes Bitmine\u2019s balance sheet heavily tied to Ethereum, but not entirely dependent on it.<\/p>\n\n\n\n Bitmine\u2019s latest purchase came during a weaker period for Ethereum.<\/p>\n\n\n\n ETH recently traded near $2,100<\/strong>, with pressure coming from ETF outflows, whale deposits, higher exchange reserves, and broader market uncertainty. Lee also linked some selling pressure to rising oil prices.<\/p>\n\n\n\n Still, Bitmine appears to be using price weakness as a buying opportunity. The company\u2019s latest ETH purchase suggests it remains confident in Ethereum\u2019s long-term role as a treasury asset and staking yield source.<\/p>\n\n\n\n For now, the Bitmine Ethereum treasury<\/strong> continues to grow quickly. If the company keeps buying at this pace, its 5% Ethereum supply target could move even closer within the coming months.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Bitmine Immersion Technologies has added another large amount of Ethereum to its corporate treasury. The company said its Ethereum holdings reached 5,278,462 ETH as of May 17 at 4:00 p.m. ET. Bitmine valued the position at $2,191 per ETH, bringing its total ETH stash to around 4.37% of Ethereum\u2019s total supply. The latest update shows…<\/p>\n","protected":false},"author":3,"featured_media":14641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1442,301],"class_list":["post-14640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitmine","tag-ethereum"],"yoast_head":"\nBitmine Moves Closer to Its 5% ETH Target<\/h2>\n\n\n\n
How Much ETH Has Bitmine Staked?<\/h2>\n\n\n\n
MAVAN Supports Bitmine\u2019s Staking Plan<\/h2>\n\n\n\n
Bitmine Becomes a Major Ethereum Holder<\/h2>\n\n\n\n
Ethereum Market Faces Pressure<\/h2>\n\n\n\n