What happened
Bitmine Immersion (BMNR) said Monday it holds 5,206,790 ether, valued at $2,366 per coin in the company's disclosure, alongside 201 bitcoin and $775 million in cash. The release also breaks out a $200 million stake in Beast Industries and an $88 million position in Eightco Holdings, per the company's update covering balances as of May 10. The headline figure pushes Bitmine past 4.
31% of ether's 120 million-coin supply, and within sight of the 5% target CEO Tom Lee has been publicly chasing since the firm pivoted to an ETH-treasury strategy. NewsBTC first reported the disclosure Monday morning. Lee said in the statement that 4.
7 million of the company's ETH is staked, which he priced at $11. 1 billion using the same $2,366 reference. At a quoted 2.
86% seven-day BMNR yield, that translates to a projected $352 million in annual staking rewards. Lee added that Bitmine has staked more ETH than any other entity globally, a claim the company did not benchmark against named peers in the release.
Why it matters
This is the largest single corporate ether position ever disclosed, and it has been built in under twelve months. Lee said Bitmine has acquired more than 1 million ETH since the start of 2026 alone. That kind of accumulation pace from one balance sheet is a structural story, not a trading one.
If the staked portion stays locked, roughly 3. 9% of all ether is effectively out of float for as long as Bitmine holds it. The company is also slowing down.