{"id":43433,"date":"2026-05-12T10:00:41","date_gmt":"2026-05-12T10:00:41","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=43433"},"modified":"2026-05-12T10:00:41","modified_gmt":"2026-05-12T10:00:41","slug":"bitmine-eth-holdings-cross-5-2-million-ceo-announces-new-phase-for-crypto-markets","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=43433","title":{"rendered":"Bitmine ETH Holdings Cross 5.2 Million\u2014CEO Announces New Phase For Crypto Markets"},"content":{"rendered":"

Bitmine Immersion (BMNR) said on Monday that its Ethereum (ETH) holdings have continued to climb, reaching 5 million tokens and getting closer to the company\u2019s longer-term goal of owning 5% of the total ETH supply.\u00a0<\/p>\n

The firm described the update as evidence that a \u201ccrypto spring\u201d has begun, and used the announcement to reinforce why it believes ETH matters not only as an asset, but also as a form of diversification for investors.<\/p>\n

What\u2019s In Bitmine Immersion\u2019s Portfolio?<\/h2>\n

According to Bitmine\u2019s disclosure<\/a>, the company controls more than 4.31% of ETH\u2019s total supply of 120 million coins. The release also breaks down its overall crypto and non-crypto holdings as of May 10.\u00a0<\/p>\n

Bitmine reported 5,206,790 ETH valued at $2,366 per ETH, along with 201 Bitcoin (BTC). Beyond the major cryptocurrencies, the company said it has a $200 million stake in Beast Industries, an $88 million stake in Eightco Holdings, and total cash of $775 million.<\/p>\n

Bitmine also provided figures on staking<\/a>. As of May 10, it said its total staked ETH stands at 4,7 million, which it valued at $11.1 billion using the same $2,366 per ETH reference. The company added that its staked ETH volume is higher than that of other entities globally.\u00a0<\/p>\n

\u201cBitmine has staked more ETH than other entities in the world,\u201d the company\u2019s CEO Tom Lee said in the release. He continued that, at scale, the projected staking reward is $352 million annually, based on a 2.86% 7-day BMNR yield.<\/p>\n

Lee tied the company\u2019s accumulation strategy <\/a>to broader market drivers. He said the firm wants to highlight the role of owning ETH as a diversification tool, alongside the factors he believes could push the next \u201ccrypto bull\u201d phase.\u00a0<\/p>\n

Is \u2018Crypto Spring\u2019 Already Here?<\/h2>\n

Bitmine also disclosed that its buying and staking activity is directly contributing to reduced circulating supply. Lee stated that, since the start of 2026, the company has acquired over 1 million ETH and accumulated more than 4.3% of the total supply.\u00a0<\/p>\n

He said Bitmine intends to hold and stake its ETH holdings<\/a>, meaning those coins are effectively removing liquidity from the market. In his words, ETH has been \u201cdisinflationary since June 2025\u201d because Bitmine had already removed 4.3% of ETH supply from circulation since June 30, 2025.<\/p>\n

The company also adjusted its near-term accumulation plan. Lee said Bitmine has decided to slow down the pace of weekly accumulation from a targeted rate of more than 100,000 ETH per week.\u00a0<\/p>\n

Lee said maintaining the earlier pace of weekly purchases would have meant reaching the 5% level by mid-July, but the shift now reflects a change in timing for how quickly the target is approached.<\/p>\n

Lastly, Bitmine pointed to market correlations<\/a> it believes support its \u201ccrypto spring\u201d thesis. The company said ETH prices have been correlated with software stocks.\u00a0<\/p>\n

It stated that both ETH and the software ETF have been moving higher together in recent months. In its interpretation, the recovery in software stocks during 2026 is additional evidence that \u201ccrypto spring\u201d has commenced.<\/p>\n

\"Bitmine\"<\/p>\n

At the time of writing, ETH was trading just below the company\u2019s average purchase price of $2,366, but was still holding on to gains of 2.3% over the previous two weeks.\u00a0<\/p>\n

Featured image created with OpenArt, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Bitmine Immersion (BMNR) said on Monday that its Ethereum (ETH) holdings have continued to climb, reaching 5 million tokens and getting closer to the company\u2019s longer-term goal of owning 5% of the total ETH supply.\u00a0 The firm described the update as evidence that a \u201ccrypto spring\u201d has begun, and used the announcement to reinforce why […]<\/p>\n","protected":false},"author":1,"featured_media":43434,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[],"class_list":{"0":"post-43433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum"},"yoast_head":"\nBitmine ETH Holdings Cross 5.2 Million\u2014CEO Announces New Phase For Crypto Markets - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=43433\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitmine ETH Holdings Cross 5.2 Million\u2014CEO Announces New Phase For Crypto Markets - 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