Ethereum

Galaxy

Made in America

Beast

Tom Lee

<h2 id="bitmine-crosses-5-21-million-eth-as-accumulation-drive-slows">Bitmine Crosses 5.21 Million ETH as Accumulation Drive Slows</h2>
Bitmine Immersion Technologies (<a href="https://x.com/BitMNR" rel="noopener noreferrer nofollow">@BitMNR</a>) has disclosed that its Ethereum holdings have reached 5,206,790 <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a>, <cite>representing 4.31% of the total ETH supply of 120.7 million tokens.</cite> The update, published on May 11, 2026, marks another milestone in the company's stated goal of acquiring 5% of all circulating Ether.
<cite>Bitmine has sharply slowed its purchase pace after months of aggressive buying. The firm added 26,659 ETH last week, worth roughly $63 million, which is approximately a quarter of its average weekly haul over the prior period.</cite> Chairman Tom Lee signalled the moderation, <cite>noting the firm has now accumulated more than 1 million ETH since the start of 2026 and is nearing its long-term supply target.</cite>
<cite>Bitmine's combined crypto, total cash, and "moonshot" holdings now stand at $13.4 billion.</cite><cite>The portfolio includes 5,206,790 <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a> valued at $2,366 per token, 201 Bitcoin, a $200 million stake in Beast Industries, an $88 million stake in Eightco Holdings (NASDAQ: ORBS), and $775 million in cash.</cite>
<h2 id="mavan-staking-platform-drives-projected-352-million-in-annual-rewards">MAVAN Staking Platform Drives Projected $352 Million in Annual Rewards</h2>
<cite>As of May 10, 2026, Bitmine's total staked ETH stands at 4,712,917, valued at approximately $11.1 billion at $2,366 per <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a>.</cite><cite>The staking operations run through MAVAN, the Made in America VAlidator Network, which serves as a staking destination for BMNR and institutional investors, with a focus on security, performance, and resilience.</cite>
<cite>At full scale, when Bitmine's ETH is fully staked by MAVAN and its partners, the projected annual staking reward is $352 million, based on a 2.86% seven-day BMNR yield.</cite><cite>While MAVAN was originally developed to support Bitmine's own Ethereum treasury, the platform intends to expand to serve institutional investors, custodians, and ecosystem partners.</cite>
<cite>Bitmine's crypto holdings rank it as the number one Ethereum treasury and the number two global crypto treasury, behind Strategy Inc.</cite> The company <cite>uplisted to the <a href="https://x.com/NYSE" rel="noopener noreferrer nofollow">@NYSE</a> from NYSE American on April 9, 2026</cite> and continues to trade under the ticker <a href="https://x.com/search?q=%24BMNR&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$BMNR</a>. <cite>Its institutional investor base includes ARK Investment Management, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.</cite>
Lee has framed the current environment as the start of a new market cycle. <cite>He cited Wall Street's move to tokenization and the growing demand from agentic AI systems as the two primary future drivers for Ethereum.</cite>
Sources: <a href="https://www.prnewswire.com/in/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-21-million-tokens-and-total-crypto-and-total-cash-holdings-of-13-4-billion-302767842.html" rel="noopener noreferrer nofollow">Bitmine Immersion Technologies official press release via PR Newswire, May 11, 2026</a> <a href="https://www.coindesk.com/business/2026/05/11/tom-lee-s-bitmine-slows-down-ether-purchases-after-already-buying-1-million-tokens-this-year" rel="noopener noreferrer nofollow">CoinDesk: Bitmine slows ETH purchases after buying 1 million tokens in 2026</a>

Tom Lee'S Bitmine Now Holds 4.31% Of Ethereum Supply

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