Ethereum

Based

Billion

Tom Lee

<ul>
 <li>Bitmine acquired 26,497 ETH over the past week, increasing total Ethereum holdings to 5,416,901 ETH.</li>
 <li>The company now controls approximately 4.49% of Ethereum’s total supply of 120.7 million ETH.</li>
 <li>4,718,677 ETH are currently staked, representing about $9.5 billion at an ETH price of $2,003.</li>
 <li>Total crypto, cash, and strategic investments reached approximately $11.6 billion as of May 31, 2026.</li>
 <li>Bitmine said it is now 90% of the way toward its stated “Alchemy of 5%” goal.</li>
</ul>
Bitmine disclosed that it acquired an additional 26,497 Ethereum (ETH) during the past week, bringing its total ETH holdings to 5,416,901 ETH as of May 31, 2026. Based on an ETH price of $2,003, the company’s Ethereum treasury is valued at approximately $10.9 billion.
The latest purchase further strengthens Bitmine’s position as one of the largest corporate Ethereum holders. The company said its holdings now represent approximately 4.49% of Ethereum’s total circulating supply of 120.7 million ETH, moving it closer to its stated objective of reaching 5% ownership of the network’s supply.
<h2 id="crypto-treasury-and-cash-holdings-reach-11-6-billion">Crypto Treasury and Cash Holdings Reach $11.6 Billion</h2>
<figure class="wp-caption aligncenter"><img src="https://cryip.co/wp-content/uploads/2026/06/BITMINE_Weekly_Update-May-25-31.jpg" alt="" width="411" height="411">
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 BITMINE-Weekly-Update
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As of May 31, 2026, at 2:00 p.m. ET, Bitmine reported combined crypto assets, cash reserves, and strategic investments totaling approximately $11.6 billion.
The company’s holdings consist of:
<ul>
 <li>5,416,901 ETH valued at approximately $10.9 billion.</li>
 <li>203 Bitcoin (BTC).</li>
 <li>$446 million in cash.</li>
 <li>A $180 million stake in Beast Industries.</li>
 <li>A $93 million stake in Eightco Holdings, which the company classifies as “moonshots.”</li>
</ul>
Bitmine stated that the latest figures place the company roughly 90% of the way toward achieving its internally defined “Alchemy of 5%” target, referring to ownership of 5% of Ethereum’s total supply.
<a href="https://cryip.co/bitmine-bmnr-buys-111942-eth-as-total-holdings-reach-5-39-million-eth/" rel="noopener noreferrer nofollow">Compared with the previous week</a>, Bitmine’s Ethereum holdings increased from 5.39 million ETH to 5.42 million ETH following the acquisition of an additional 26,497 ETH. The latest purchase was smaller than the prior week’s 111,942 ETH acquisition but further expanded the company’s position as one of the largest corporate ETH holders.
Total ETH holdings rose by approximately 0.5% week-over-week, while staked ETH increased to 4.72 million ETH. Bitmine’s continued accumulation strategy also pushed its ownership of Ethereum’s total supply from roughly 4.47% to 4.49%.
Recently, <a href="https://cryip.co/strategy-sells-32-bitcoin-while-retaining-843706-btc-treasury-holdings/" rel="noopener noreferrer nofollow">Strategy sold 32 BTC</a> for approximately $2.5 million while maintaining treasury holdings of 843,706 Bitcoin. The company also raised $128.3 million through MSTR stock issuance.
<h2 id="staking-operations-generate-growing-revenue-base">Staking Operations Generate Growing Revenue Base</h2>
Of Bitmine’s total Ethereum holdings, 4,718,677 ETH are currently staked, representing approximately 87% of the company’s ETH treasury. At current valuations, the staked assets are worth about $9.5 billion.
According to the company, the staking portfolio generated a 7-day yield of 2.73% on an annualized basis. Based on current staking levels, Bitmine projects annualized staking revenue of approximately $258 million.
Chairman Tom Lee highlighted the scale of the company’s staking operations, stating: “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $296 million on an annualized basis.”
The company said Ethereum continues to benefit from two major industry trends: the growing use of blockchain-based tokenization by traditional financial institutions and increasing demand for public blockchain infrastructure from agentic artificial intelligence systems.
With more than 5.4 million ETH on its balance sheet and nearly 4.7 million ETH actively staked, Bitmine’s latest acquisition further expands its exposure to Ethereum while increasing the scale of its staking-based revenue operations.
<h2 id="ethereum-market-context">Ethereum Market Context</h2>
<figure class="wp-caption aligncenter"><img src="https://cryip.co/wp-content/uploads/2026/06/Eth-May-25-31-Weekly-Bitmine-Report.png" alt="" width="1004" height="367">
 <figcaption><a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">ETH Graph</a>
 </figcaption>
</figure>
Ethereum traded in a relatively stable range between May 25 and May 31, 2026, as institutional accumulation and staking activity continued to support market sentiment. During the week, ETH hovered around the $2,000 level and closed the period at approximately $2,003 per token. Ethereum’s market capitalization remained near $242 billion based on a circulating supply of roughly 120.7 million ETH. The network continued to benefit from growing tokenization initiatives and sustained demand from decentralized finance and staking participants. Corporate treasury accumulation, including purchases by firms such as Bitmine, added to the week’s notable developments across the Ethereum ecosystem.
Source:<a href="https://www.sec.gov/Archives/edgar/data/1829311/000149315226026543/ex99-1.htm" rel="noopener noreferrer nofollow">Bitmine Immersion Technologies (BMNR)</a>

Bitmine (BMNR) Buys 26,497 ETH as Total Holdings Reach 5.42 Million ETH

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