Bitmine Reports $13.1B Treasury, 5.18M ETH Holdings

Bitmine Immersion Technologies disclosed on May 4 that its treasury totaled $13.1 billion as of May 3, 2026. The company reported holdings of 5,180,131 ether and 200 bitcoin, alongside cash and strategic investments.

Bitmine valued its ethereum at $2,336 per ETH, placing the ETH line item at about $12.1 billion of the reported total. The company said the ethereum position represents roughly 4.29% of the global ETH supply. Bitmine also reported $700 million in cash and $283 million in so-called “moonshot” investments, including stakes in Beast Industries and Eightco Holdings.

The company reported that 4,362,757 ETH, or about 84% of its ethereum holdings, were staked through the Made in America Validator Network, an institutional staking platform the firm has been expanding. Bitmine stated its staked ETH is generating annualized staking revenue of $297 million. Company filings show Bitmine acquired an additional 101,745 ETH in the week before the disclosure.

Bitmine’s disclosure lists the company as the largest holder of ethereum and the second-largest cryptocurrency treasury globally, trailing only Strategy, which it said holds bitcoin valued at $64.2 billion. The company reported an average daily dollar trading volume of $625 million for its stock. Fundstrat data cited by Bitmine places the firm as the 173rd most traded U.S. stock, positioned between Cheniere Energy and DoorDash.

On policy, the company referenced a recent compromise text on the CLARITY Act. The proposed language seeks to regulate stablecoin yields while allowing activity-based rewards. Chairman Thomas Lee characterized current market conditions as a “Crypto Spring” and described the compromise as “largely acceptable to us,” noting prediction markets indicate better-than-60% odds the bill will pass in 2026. Lee also highlighted that, in his view, ETH is being used increasingly as both a store of value and a unit of exchange and that ETH has outperformed the S&P 500 by 1,380 basis points since the start of the Iran War.

Bitmine said its expansion of validator infrastructure and concentrated ETH staking are intended to generate revenue from network participation and to position the company as an institutional participant in ethereum staking.