Bitmine adds 5.078M ETH to treasury, 3.702M staked via MAVAN
Bitmine Immersion Technologies (NYSE: BMNR) said its crypto treasury rose to $13.3B, led by ETH holdings of 5,078,386 tokens as of Apr 26, 2026 (about $2,369/ETH). The company said its ETH holdings equal 4.21% of the total ETH supply (120.7M) and that it crossed the 5M ETH milestone over the past week, underscoring its “Alchemy of 5%” accumulation plan.
Bitmine also disclosed 3,701,589 staked ETH, worth roughly $8.8B, and credited stronger momentum to continued ETH purchases over the prior four weeks, including a weekly buy rate of 101,901 ETH (its highest since Dec 15, 2025). It detailed MAVAN (Made in American Validator Network) as an institutional staking expansion platform, with Bitmine already staking part of its ETH via MAVAN.
Other reported positions include 200 BTC, a $200M stake in Beast Industries, and $91M in “moonshots” via Eightco (NASDAQ: ORBS), plus $940M in cash. Separately, the firm’s NYSE listing moved from NYSE American to NYSE effective Apr 9, 2026.
For crypto traders, the key takeaway is the sustained pace of ETH accumulation and the large staked ETH balance, which can reinforce the ETH demand/liquidity narrative while adding another public-market “ETH treasury” proxy for sentiment.
Bullish
Bitmine disclosed a sustained accumulation of ETH, topping 5M ETH and continuing to buy at a high weekly pace, while also locking a very large amount into staked ETH (3.70M). For ETH specifically, this combination supports the “real-demand / reduced circulating supply” narrative in the short term as traders track treasury flows and staking lockups, and it can strengthen longer-term sentiment if accumulation continues toward the company’s 5% supply goal. The NYSE up-listing is unlikely to change ETH fundamentals, but it may increase visibility and investor follow-through, which can amplify near-term positioning around ETH.