Bitmine Immersion Technologies now holds 5,742,237 ETH, or 4.8% of Ethereum’s total supply, as part of $11.1 billion in combined crypto and cash holdings. The company says it is 95% of the way to its stated goal of owning 5% of all ETH.
Bitmine Immersion Technologies said it now holds 5,742,237 ETH at $1,800 per ETH, a position it says makes it the largest Ethereum treasury in the world. The holding equals 4.8% of Ethereum’s total supply of 120.7 million ETH, measured as of June 28, 2026.
An $11.1 billion balance sheet built on ETH
The Norwalk-based company reported $11.1 billion in combined crypto, cash and marketable securities alongside what it labels “moonshot” stakes. Beyond its Ethereum position, the balance sheet includes 206 Bitcoin, a $180 million stake in Beast Industries and a $71 million stake in Eightco Holdings, plus total cash and marketable securities of $527 million.
Bitmine ranks as the second-largest corporate crypto treasury overall, behind Strategy Inc., which reportedly owns 847,363 BTC valued at roughly $54 billion. Tom Lee said the company acquired 42,197 ETH over the past week, putting it 95% of the way toward its goal of holding 5% of all ETH.
Most of the treasury is staked
Bitmine has staked most of what it holds. As of July 5, 4,879,157 ETH — about $8.8 billion — was staked, representing 85% of its total ETH. The company routes this through MAVAN, its Made in America VAlidator Network staking platform.
Those operations generated a 7-day yield of 2.68% on an annualized basis, with current annualized staking revenues projected at $235 million. If the full holding is eventually staked, Lee said the projected annual staking reward reaches $277 million.
Added to the Russell 1000
The disclosure follows Bitmine’s addition to the Russell 1000 Large-cap Index on June 26. Lee tied the recent move in the ETH/BTC ratio to rising odds of the Clarity Act passing. According to PR Newswire, Lee said: “the rise in the ETH/BTC ratio in the past few days make sense” as prediction markets now see roughly 50% probability of passage, the highest odds in two weeks.
Source: PR Newswire
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