Bitmine hits 89% of ETH ownership goal in under a year of accumulation

Bitmine continues aggressive ETH acquisition, anticipating a supercycle fueled by tokenization and agentic AI.

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Add us on Google by Vivian Nguyen May. 26, 2026

Bitmine Immersion Technologies, a Connecticut-based firm with the world’s largest Ethereum treasury, now holds nearly 4.5% of ETH’s circulating supply and is 89% of the way to its “Alchemy of 5%” goal, reached in less than a year.

The growth is driven by Bitmine’s purchase of 111,942 ETH over the past week, according to a Tuesday press release.

Its total crypto and cash holdings now stand at $12.3 billion, including about 5.4 million ETH, 203 Bitcoin, stakes of $200 million in Beast Industries and $95 million in Eightco Holdings, plus $444 million in cash.

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The company currently has about 4,7 million ETH staked. MAVAN, Bitmine’s Made in America VAlidator Network, has emerged as a flagship Ethereum staking platform designed for institutional-grade security, reliability, and staking performance.

With full deployment, Bitmine estimates annualized staking rewards could reach $276 million using a 2.75% 7-day BMNR staking yield.

On the long-term outlook for crypto and Ethereum, Thomas “Tom” Lee, Chairman of Bitmine, reiterated that a “supercycle” could be ahead driven by tokenization and agentic AI, and noted that Bitmine continues to accumulate ETH aggressively as part of its plan to reach its long-term supply target.

“We continue to expect a supercycle ahead for crypto and Ethereum, driven by the dual drivers of Wall Street tokenization and agentic-AI. And thus, we continue to steadily acquire ETH,” Lee stated. “We view the recent pullback of ETH to below $2,200 as an attractive opportunity. Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026.”

The latest acquisition is BitMine’s largest ETH purchase this year and comes as a surprise after Lee said the company may slow its Ethereum accumulation as it nears its 5% supply target.

Speaking at Consensus 2026, he said BitMine could reach its goal in about six weeks at its current pace, while also noting the firm is considering other priorities such as staking, its NYSE listing, and a $4 billion buyback authorization.

Shares of Bitmine surged about 3.5% in early trading on Tuesday, per Yahoo Finance.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.