Bitmine Reaches New Milestone with 5.7 Million ETH Tokens

Bitmine Immersion Technologies (BMNR) has reached another milestone in its ambitious plan to accumulate ETH, announcing that it now holds a total of 5.7 million tokens, representing 4.7% of the total ETH coin supply of 120.7 million.

This news comes on the heels of BMNR's addition to the Russell 1000 Large-cap index on June 26, which is expected to bring in hundreds and possibly thousands of new institutional investors as equity owners of the company.

BMNR's Chairman, Thomas 'Tom' Lee, stated that the future roadmap for crypto remains positive due to dual drivers: Wall Street modernizing its legacy infrastructure on crypto rails and the future of agentic-AI payment systems on crypto rails. He also noted that BMNR is nearing the 'alchemy of 5%' goal, aiming to reach this milestone sometime in 2026.

The company has launched MAVAN (Made-in America VAlidator Network), a dedicated staking infrastructure for Bitmine assets, which currently holds 4,879,157 staked ETH, valued at $7.7 billion. This represents a significant portion of BMNR's total crypto holdings, with an annualized staking revenue projected to be $246 million.