Bitmine Expands Ethereum Treasury To 5.28M ETH With 71,672

By Arslan Tabish | Edited By Ammar Raza,May 18, 2026, 11:24 PM

Bitmine Immersion Technologies bought 71,672 ETH last week after Ethereum briefly dropped below $2,200. The purchase expanded its Ethereum treasury to 5,278,462 ETH as of May 17, according to the company’s latest weekly update for investors.

As per the report, the company valued the ETH position at about $11.6 billion. That estimate was based on a reported Ethereum price of $2,191 at the time of disclosure.

Also Read: Tom Lee Says Ethereum Price Outlook Can Strengthen Through 2026

Bitmine Ethereum Holdings Near 4.4% of Supply

Bitmine’s holdings now account for almost 4.4% of the circulating supply of Ethereum, Bitmine said. Chairman Tom Lee stated that the company could achieve the “alchemy of 5%” in 2026.

According to the company, it is the biggest publicly announced Ethereum treasury. It also had 202 BTC, $685 million in cash, $200 million in shares of Beast Industries, and $83 million in shares of Eightco Holdings Inc.

The company stated that the value of its cryptocurrencies, cash, and other assets is $12.6 billion. The latest transaction followed Bitmine’s May 11 disclosure that it had bought another 26,659 ETH.

Ethereum has just dipped below $2,200 and provided a great long-term positioning opportunity, Lee said. He noted that Bitmine has a long-term interest in Ethereum because the real-world adoption of blockchain infrastructure is increasing among institutions.

The firm also noted that the majority of its ETH has been staked. According to Bitmine, 4,712,917 ETH has been staked, which represents roughly 89% of its total ETH supply.

That staking position was valued at more than $10 billion. The strategy is to generate long-term exposure to the Ethereum treasury with a recurring yield.

Ethereum Treasury Strategy Expands Through MAVAN

Bitmine estimated a value of annualized staking revenue at around $289 million at a 7-day annualized yield of 2.80%. This number may increase as more ETH is used, according to the company.

Bitmine’s ETH is distributed among the validator infrastructure and partner platforms, with rewards reaching approximately $324 million per year. The estimate assumes full deployment throughout its staking network.

MAVAN, the company’s institutional staking platform, is also part of the Ethereum treasury strategy. MAVAN stands for “Made in American Validator Network” and was created to support Bitmine’s internal treasury operations.

The company indicated that it will be making MAVAN available to ecosystem partners, custodians, and institutional investors. The platform is designed for groups looking for Ethereum staking infrastructure.

In addition, Bitmine cited the advancement of the Digital Asset Market Clarity Act. The bill passed through the Senate Banking Committee recently but still has to pass additional votes before it becomes law.

Lee noted that more transparent U.S. digital asset regulations could make it easier for traditional financial institutions to increase their engagement with digital assets. The update from Bitmine explains how the firm has been growing its ETH treasury by buying, staking, and infrastructure development.

Also Read: Strategy Bitcoin Purchase Adds 24,869 BTC, Holdings Reach 843,738 BTC