Bitmine Immersion Technologies, Inc., known as Bitmine (NYSE: BMNR), has announced its crypto holdings and total cash & marketable securities totaling $10.4 billion. This figure includes 5.62 million ETH tokens, with a value of around $9.7 billion at the current price of $1,718 per ETH.
Bitmine's Ethereum (ETH) holdings account for 4.66% of the total ETH supply of 120.7 million, making it the largest ETH treasury in the world. The company has also staked over 4.7 million ETH on its institutional-grade staking platform, MAVAN, earning a projected annualized staking reward of $269 million.
Bitmine's Chairman, Thomas 'Tom' Lee, stated that the company is maintaining an elevated pace of buying as it believes the current pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals. Bitmine aims to reach the 'alchemy of 5%' sometime in 2026, which would make it a leading Ethereum treasury company.