BitMine Reports 5.18 Million ETH Holdings as Staking Revenue Reaches $297 Million

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BitMine (NYSE: $BMNR) said Monday its Ethereum holdings have reached 5,180,131 ETH, pushing its total crypto, cash and “moonshot” holdings to about $13.1 billion. The company said its assets also include $700 million in cash, 200 BTC, a $200 million stake in Beast Industries and an $83 million position in Eightco Holdings (NASDAQ: $ORBS). BitMine now says it owns more than 4.29% of Ethereum’s total supply. 

The update shows how quickly BitMine is trying to turn an ETH treasury strategy into something larger than simple accumulation. The company acquired 101,745 ETH over the past week and is now about 86% of the way toward its stated goal of holding 5% of the ETH supply. Chairman Tom Lee said BitMine has kept up an accelerated buying pace for four straight weeks, while arguing that Ethereum continues to benefit from Wall Street tokenization and the growing need for neutral public blockchains in AI-driven commerce.  

Staking is becoming a bigger part of that story. BitMine said it has 4,362,757 ETH staked, valued at roughly $10.2 billion at its reference price of $2,336 per ETH. Lee said current annualized staking revenue has reached $297 million, while fully staking the company’s ETH through MAVAN and its partners could lift projected rewards to about $352 million annually. MAVAN, BitMine’s Made in America Validator Network, was originally built for its own treasury but is intended to expand toward institutional investors, custodians and ecosystem partners.  

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That keeps BitMine positioned as the largest Ethereum treasury and the second-largest global crypto treasury behind Strategy. The company also pointed to trading liquidity, saying BMNR averaged $625 million in daily dollar volume over five days and ranked No. 173 among U.S.-listed stocks.

For a treasury company built around Ethereum, the story is increasingly moving beyond accumulation and into whether validator infrastructure can turn a large token position into recurring operating income.

BitMine (NYSE: BMNR) stock is currently sitting at $22.36 U.S. per share. 

Ethereum (CRYPTO: $ETH) is currently trading at $2,341.79 U.S. per digital token.