Bitmine Immersion Technologies is rapidly positioning itself as one of the most aggressive Ethereum treasury players in public markets, with total crypto assets, cash reserves, and early-stage investments now valued at roughly $12.8 billion.
The company currently holds more than 4.24 million ETH, equivalent to about 3.52% of Ethereum’s circulating supply. Reaching that level in just six months puts Bitmine close to its longer-term objective of acquiring 5% of all ETH, a milestone it frames internally as the “Alchemy of 5%.”
Key Takeaways
Bitmine now controls more than 3.5% of Ethereum’s total supply, moving quickly toward its 5% accumulation target.
Over 2 million ETH are already staked, with the MAVAN staking platform expected to launch in Q1 2026.
Strong stock liquidity and backing from major institutional investors are reinforcing Bitmine’s aggressive treasury strategy.
Staking expansion and MAVAN rollout in focus
More than 2 million ETH from Bitmine’s balance sheet is already staked, signaling a long-term, yield-oriented approach rather than short-term trading. The company says its MAVAN staking solution remains on track for launch in the first quarter of 2026, which could further optimize returns while deepening its role within Ethereum’s validator ecosystem.
If delivered as planned, MAVAN would represent a major operational step, turning Bitmine from a large holder into a more active participant in Ethereum’s network economics.
Moonshot investments add risk-on exposure
Alongside its core crypto strategy, Bitmine is also leaning into selective high-growth bets. Earlier this month, the company finalized a $200 million investment into Beast Industries, which has now been formally added to its balance sheet at cost.
Additional “moonshot” holdings include a stake in Eightco Holdings, smaller crypto positions, and approximately $682 million in cash, giving the company flexibility to continue expanding its portfolio during market pullbacks.
Stock liquidity and institutional backing stand out
Bitmine argues that its advantage over other crypto-treasury peers lies not only in asset size, but in execution speed and market liquidity. BMNR has become one of the most actively traded stocks in the US, with roughly $1.2 billion in average daily trading volume over the past five sessions, ranking it among the country’s top 100 most traded equities.
That momentum has been supported by a heavyweight investor base, including Cathie Wood, Founders Fund, Pantera Capital, Galaxy Digital, Digital Currency Group, and market strategist Tom Lee.
Following discussions at the World Economic Forum in Davos, Lee highlighted what he sees as a clear shift in institutional thinking, with traditional finance increasingly embracing crypto and blockchain as part of a broader convergence with artificial intelligence and digital infrastructure.
