Ethereum News Today: Bitmine Nears 5% ETH Goal After $153M Weekly Buy
Bitmine Immersion Technologies bought 71,672 ETH worth $153M
Bitmine Immersion Technologies expanded its Ethereum treasury again last week. The NYSE-listed firm bought 71,672 tokens during a market dip below $2,200. The company now controls 4.37% of the total supply. The update came through a press release issued on May 18.
Bitmine Pushes Closer to Its “Alchemy of 5%.”
Bitmine Immersion Technologies said its total Ethereum holdings reached 5,278,462 ETH as of May 17. At current prices, those holdings are worth about $11.32 billion. The company added 71,672 ETH over the past week alone.
Chairman Thomas Lee described the recent ETH decline as a buying chance. Ethereum price today is at $2135.91 during the pullback. Lee said Bitmine expects to achieve its “Alchemy of 5%” target sometime in 2026.
The figures were announced in a PRNewswire release. Bitmine also said it recently moved its stock listing from NYSE American to the New York Stock Exchange on April 9, 2026.
Source: Coinmarketcap
The token could gain from two major trends:
- Wall Street tokenization activity
- Growing use of blockchain systems by AI applications
Bitmine also pointed to progress around the proposed CLARITY Act in the US Senate. Lee said the bill could improve regulatory clarity for crypto firms and institutional investors.
Source: LookonChain X
Massive Ethereum Treasury Builds Staking Income
Bitmine now ranks among the largest Ethereum holders globally. The company's reserve equals 4.37% of Ethereum’s 120.7 million token supply.
Out of its total holdings, 4,712,917 tokens are currently staked. That stake is worth about $10.3 billion at ETH prices near $2,191. The company stakes those assets through MAVAN, short for Made in America Validator Network.
For new crypto readers, staking means locking crypto tokens to help secure a blockchain network. In return, companies earn yield rewards. Bitmine said its staking operations currently generate an annualized yield of 2.80%. Based on that rate, projected yearly staking rewards could reach $324 million once all ETH becomes fully staked.
The company also disclosed broader holdings worth $12.6 billion. Those assets include:
- 202 Bitcoin
- $685 million in cash
- A $200 million stake in Beast Industries
- $83 million in Eightco Holdings
Bitmine said Eightco offers indirect exposure to OpenAI through public markets.
Traders Watch BMNR as Institutional ETH Demand Grows
Bitmine described itself as the world’s largest treasury company. The firm trails only Strategy Inc. globally among crypto treasury firms by asset value. It also reported strong stock trading activity. BMNR stock traded about $857 million daily over the past five sessions. That ranked it as the 133rd most traded US-listed stock.
Market watchers continue tracking institutional demand. Large treasury buys often signal long-term confidence from public companies. Bitmine’s steady accumulation strategy may also tighten the available token supply if staking levels remain high.
Ethereum's role in tokenization, stablecoins, and blockchain-based finance remains a major focus for institutional investors. Regulatory changes, staking demand, and treasury accumulation could shape Ethereum market trends through 2026.
Could Corporate ETH Treasuries Change Supply Dynamics?
Disclaimer: This article is for informational purposes only. It does not provide financial or investment advice. Cryptocurrency markets remain volatile, and readers should conduct independent research through official channels before making investment decisions.
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