Bitmine Expands Ethereum Reserves
Recently, Bitmine revealed that it has increased its holdings by 111,942 ETH during the recent pullback in the Ethereum market. Company Chairman Thomas “Tom” Lee stated that the opportunity to buy ETH below $2,200 is highly attractive for asset accumulation.
Bitmine noted that after 11 months of effort, the company has achieved 89% of its “Alchemy of 5%” target. Meanwhile, Ethereum remains the company’s primary reserve asset, and Bitmine is continuously expanding its staking infrastructure.
Staked ETH and MAVAN Operations
Currently, Bitmine has staked 4,712,917 ETH through its self-developed MAVAN (“Made in America Validator Network”). At the current ETH price of $2,134, the market value of this staked asset is approximately $10.1 billion.
It is reported that MAVAN was initially developed to support Bitmine’s Ethereum reserve operations but is expected to expand into an institutional-grade staking platform for custodial banks, institutional investors, and ecosystem partners.
Additionally, Bitmine’s staking business has achieved an annualized yield of 2.75% over the past seven days. Based on current staking activities, Bitmine anticipates annual staking revenue to reach approximately $276 million.
Total Holdings and “Moon Investments”
As of May 25, 2026, Bitmine reported that its total holdings of crypto assets, cash, and “moon investments” have reached $12.3 billion. These holdings include:
Bitmine stated that its investment in Eightco Holdings has provided an indirect opportunity to engage with OpenAI, utilizing a publicly listed equity structure.
Institutional Support and Market Position
The company claims to continue receiving support from multiple institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, Bill Miller III, and Thomas “Tom” Lee.
Bitmine also asserts that BMNR is one of the most actively traded stocks in the U.S. market. According to research from Fundstrat, BMNR has achieved an average daily trading volume of $572 million over the past five trading days, ranking 193rd among U.S.-listed stocks.
Furthermore, Bitmine maintains the largest Ethereum reserves globally, while ranking second in global crypto asset reserves, only behind Strategy Inc. (NASDAQ: MSTR).
Ethereum Market Background
In May 2026, Ethereum continues to experience volatility, with ETH prices facing pressure after breaking below the critical $2,200 level. Despite the pullback, the accumulation trend among institutional investors continues in the broader digital asset market.
Bitmine pointed out that Ethereum is benefiting from two major long-term trends: increased tokenization activities on Wall Street and the growing demand for public and neutral blockchain infrastructure for smart agent AI systems.