Bitmine Accumulates 5.77M ETH as Holdings Reach 4.8% of Total Supply

According to a July 13 press release, Bitmine Immersion Technologies disclosed that its Ethereum holdings have reached 5.77 million tokens as of July 15, representing 4.8% of the total ETH supply. The company's total crypto and cash holdings now stand at $11.3 billion, with ETH trading at $1,874.61 after gaining 8.23% over the past week.

Bitmine reported $45.7 million in Ethereum staking and validation revenue for the three months ended May 31, 2026, accounting for 98% of quarterly revenue, according to its 10-Q filing. The company has staked approximately 4.9 million ETH through its institutional staking platform MAVAN, launched in March 2026.