Tom Lee’s Bitmine keeps piling into Ethereum — buying another 26,497 ETH in the last week and bringing its balance to roughly 5.42 million ETH as the NYSE-listed miner moves toward its goal of owning 5% of the supply. Key facts - Latest buy: 26,497 ETH added over the past week, taking Bitmine’s total to 5,416,901 ETH (≈5.42M). - Company valuation snapshot: Bitmine reported crypto, cash and “moonshots” totaling roughly $11.6 billion as of May 31. In an earlier May 26 update the firm valued total crypto + moonshots at about $12.3 billion using an ETH price of $2,003. - Other holdings: 203 BTC, $446 million in cash, a $180 million stake in Beast Industries and a $93 million stake in Eightco Holdings. - Supply target: Bitmine’s ETH equals about 4.49% of Ethereum’s ~120.7 million token supply — roughly 90% of the way to its “Alchemy of 5%” target. The company expects to hit 5% sometime in 2026, Tom Lee said. - Staking: 4,718,677 ETH are already staked (≈87% of its ETH holdings), valued at about $9.5 billion at $2,003/ETH. Bitmine projects annualized staking revenue of $258 million today; that could rise to ~$296 million a year if it fully stakes via its MAVAN platform and partners, using a seven-day annualized yield of 2.73%. What Bitmine is building - MAVAN (Made in America Validator Network) is Bitmine’s in-house staking infrastructure, designed to secure its treasury and potentially offer validator services for institutions, custodians and partners. Market context and strategy risks - The latest purchases come while ETH trades around $2,000 and remains under short-term pressure after failing to reclaim higher resistance levels. Bitmine continued buying through the pullback — it added 71,672 ETH in the week ended May 17, taking it then to about 5.28M ETH. - Bitmine says it runs the largest Ethereum treasury and the second-largest global crypto treasury (by its account), and notes its stock (BMNR) is among the most actively traded U.S. stocks by dollar volume. - Concentrating a large portion of the balance sheet in ETH gives investors exposure to price moves, staking yield and long-term network growth — but also raises questions about concentration risk, staking counterparty risk and how the company will manage volatility while pursuing the 5% supply target. Bottom line Bitmine is doubling down on Ethereum, turning its treasury into a major network stake and staking engine via MAVAN. Whether the firm can reach that 5% milestone while navigating price swings and staking risks will be a key watchpoint for investors and the market through 2026.
Bitmine Adds 26,497 ETH, Now Holds 5.42M — 90% Toward 5% Supply Goal
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Summary
ETH news: Bitmine added 26,497 ETH in the past week, raising its total holdings to 5.42 million ETH. The firm is now 90% toward its goal of owning 5% of Ethereum’s supply. ETH update: Bitmine currently has 4.718 million ETH staked, generating $258 million in projected annualized staking revenue. The company aims to hit the 5% target by 2026.
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