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Bitmine Immersion Technologies said its Ethereum holdings reached 5,180,131 ETH as of May 3, valuing the position at $2,336 per ETH and representing about 4.29% of total ETH supply.
Bitmine reported that it added 101,745 ETH over the prior week, bringing total Ethereum holdings to about 5.18 million tokens. The company said its staked ETH totaled 4,362,757 as of May 3, valued at approximately $10.2 billion using the same $2,336 per ETH reference price.
Bitmine also stated that its broader crypto, cash, and other listed holdings totaled $13.1 billion. That figure included 5.18 million ETH, 200 BTC, $700 million in cash, a $200 million stake in Beast Industries, and an $83 million stake in Eightco Holdings.
Chairman Thomas Bitmine Lee said Bitmine’s annualized staking revenue had reached $297 million. He also stated that staked ETH accounted for more than 84% of Bitmine’s 5.18 million ETH holdings.
Bitmine said its MAVAN platform (Made in America Validator Network) was built to support its Ethereum treasury and is intended to serve institutional investors, custodians, and ecosystem partners seeking Ethereum staking services.
Lee said Bitmine acquired 101,745 ETH in the past week and described the purchase as part of the company’s ongoing accumulation strategy. He said Bitmine maintained a faster ETH buying pace for four straight weeks and characterized ETH as being in the final stages of a “mini-crypto winter,” linking the approach to Ethereum’s role in tokenization and public blockchain use.
The update followed an Ethereum Foundation sale to Bitmine. Crypto.news reported that the foundation sold 10,000 ETH to Bitmine at an average price of $2,292 per coin, worth about $22.9 million. The report said this was the foundation’s third over-the-counter sale to Bitmine in two months, after another 10,000 ETH sale one week earlier and a 5,000 ETH sale in March.
Crypto.news also reported that Bitmine had recently staked about $508 million worth of ETH, based on Arkham-tracked activity. At the time, Bitmine’s ETH holdings had crossed 5 million tokens, placing it among the largest institutional Ethereum holders.
Bitmine said it remains the largest Ethereum treasury and the second-largest global crypto treasury behind Strategy. The company also said it is now 86% of the way toward its stated goal of holding 5% of total ETH supply.
