Bitmine reports 5.74M ETH holdings, total assets of $11.1B

Bitmine Immersion Technologies (NYSE: BMNR) reported holdings of 5,742,237 Ethereum tokens as of June 28, 2026, representing 4.8% of the total ETH supply of 120.7 million tokens, according to a company press release.

The company valued its ETH holdings at approximately $1,800 per token, based on Coinbase (NASDAQ: COIN) pricing. Combined with total cash and marketable securities of $527 million, a $180 million stake in Beast Industries, a $71 million stake in Eightco Holdings (NASDAQ: ORBS), and 206 Bitcoin, the company reported total holdings of $11.1 billion.

As of July 5, 2026, Bitmine reported 4,879,157 staked ETH, valued at $8.8 billion at $1,800 per token. The company operates MAVAN (Made in America Validator Network), its institutional-grade Ethereum staking platform. Projected annualized staking revenues stand at $235 million, with a fully staked projection of $277 million based on a 2.68% seven-day yield.

Bitmine was added to the Russell 1000 Large-cap Index on June 26, 2026, during the index's annual reconstitution. The Investment Company Institute estimates passive funds and ETFs typically hold 18–20% of shares in index-listed companies.

On June 10, 2026, Bitmine closed an offering of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock at $80.00 per share, generating net proceeds of approximately $273.8 million. The preferred stock trades on the NYSE under the symbol BMNP with weekly dividend payments scheduled.

The company acquired 42,197 ETH in the most recent week reported. Chairman Thomas Lee stated the company aims to reach ownership of 5% of ETH supply, a goal it calls the "alchemy of 5%," sometime in 2026.

According to Fundstrat data, Bitmine stock recorded an average daily dollar trading volume of $543 million over a four-day period ending July 2, 2026, ranking 233rd among 5,704 U.S.-listed stocks.

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