TLDR
- Bitmine now holds more than 4.7 million ETH, representing 3.9% of Ethereum’s total supply.
- The company has reached nearly 80% of its goal to control 5% of the Ethereum supply.
- With ETH trading at $2,076, Bitmine’s Ethereum holdings are valued at about $9.8 billion.
- Bitmine has staked 3.1 million ETH through its MAVAN platform, generating $177 million in annualized yield.
- The firm continues to increase its Ethereum holdings despite recent market volatility.
Bitmine has moved close to 80% of its target to control 5% of Ethereum’s total supply. The firm now holds more than 4.7 million ETH, equal to 3.9% of circulating coins. With ETH trading at $2,076, the holdings carry an estimated value of $9.8 billion.
Bitmine Expands Ethereum Position Toward 5% Supply Target
Bitmine, led by Fundstrat Global Advisors co-founder Thomas “Tom” Lee, continues to increase its Ethereum reserves. The company has secured backing from ARK’s Cathie Wood, Peter Thiel’s Founders Fund, and Pantera. Its Ethereum balance now exceeds 4.7 million coins, representing 3.9% of the network’s supply. The firm stated that weekly purchases now surpass previous accumulation rates.
Through its MAVAN staking platform, launched on March 25, Bitmine has staked 3.1 million ETH. The staked assets generate an annualized yield of 2.8%, which equals about $177 million per year. The company confirmed that it maintains accumulation even during market volatility. Last week, Ethereum declined during a wider market downturn linked to geopolitical tensions.
Lee addressed recent price movements in a company statement. He said, “Crypto assets, especially ETH, have held up well during ongoing geopolitical tensions.” He added that traditional stores of value, such as gold, have shown weaker performance in comparison. He also stated that crypto and equities show an inverse correlation to oil prices.
“The inverse correlation of crypto and equities to oil has been increasing,” Lee said. He continued, “This is logical because rising oil creates a headwind for equities and crypto.” Lee added that the crypto winter may end when upside risk to oil prices peaks. He said Bitmine views ETH as entering the final phase of a mini-crypto winter.
Bitcoin and Equity Holdings Complement Core Ethereum Strategy
Bitmine also maintains exposure to Bitcoin alongside its Ethereum treasury strategy. The company holds 197 Bitcoin as part of its digital asset reserves. It also owns $102 million in Eightco Holdings shares under the ticker ORBS. In addition, the firm holds $200 million in Beast Industries.
Ethereum remains down about 30% year-to-date. The asset is on track to close the first quarter of 2026 in negative territory. However, corporate entities and large wallets have recorded net buying activity during this period. Bitmine continues to increase its ETH position while prices fluctuate.
The company stated that it could reach the 5% supply threshold before mid-2026 if accumulation continues. Current holdings place Bitmine near 80% of that objective. The firm confirmed that it will maintain its Ethereum-focused treasury strategy. Ethereum trades at $2,076 at the time of reporting.
