--- title: "Bitmine Expands Ethereum Holdings to 6.04M ETH, Staking Over 5M Tokens" description: "The company's aggregate treasury reached $15.1 billion as its holdings approached 4.9% of Ethereum's circulating token supply." url: https://basisdesk.news/news/bitmine-ethereum-treasury-6-million-eth-mavan-staking published: 2026-10-23T19:16:22.495Z modified: 2026-10-23T19:16:22.495Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [ETH, BTC] tags: [bitmine, ethereum, staking, corporate-treasury, mavan] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Bitmine Expands Ethereum Holdings to 6.04M ETH, Staking Over 5M Tokens The company's aggregate treasury reached $15.1 billion as its holdings approached 4.9% of Ethereum's circulating token supply. ## At a glance - **What happened:** Bitmine Immersion Technologies grew its Ethereum treasury to 6.04 million ETH, bringing its total crypto and cash assets to $15.1 billion as of Oct. 18. - **Why it matters:** The company now controls 4.9% of Ethereum's circulating token supply and stakes over 5 million tokens to earn $309 million in projected annualized yield. - **Who is affected:** Bitmine shareholders, institutional staking participants on the MAVAN network, and secondary Ethereum spot markets. - **What's next:** The company expects to acquire the remaining tokens needed to fulfill its 5% total supply accumulation objective. - **Primary source:** [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.04 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $15.1 Billion](https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-6-04-million-tokens-and-total-crypto-and-total-cash--marketable-securities-holdings-of-15-1-billion-302912118.html) — prnewswire.com ## Key points - Bitmine held 6,041,481 ETH as of Oct. 18, representing 4.9% of the 122.1 million total circulating supply. - The firm actively staked 5,067,309 ETH, generating an estimated $309 million in annualized staking revenue. - Total corporate holdings reached $15.1 billion, including $582 million in cash and 215 Bitcoin. ## Editorial remark - **Context:** Bitmine initiated its Ethereum Treasury Strategy on June 30, 2025, buying tokens weekly to secure a 5% target share of the entire network's supply. - **Impact:** Concentrating 4.9% of all ETH in one corporate vehicle tightens liquid exchange supply while creating a $300M+ recurring non-operational yield stream. - **Watch:** Execution on the final 0.1% supply acquisition to reach Bitmine's 'Alchemy of 5%' milestone and potential deployment of remaining unstaked ETH onto MAVAN. Bitmine Immersion Technologies announced on Oct. 19 that its crypto, cash, and marketable securities holdings reached $15.1 billion as of Oct. 18 [1]. The firm holds 6,041,481 $ETH, representing 4.9% of the circulating 122.1 million ETH token supply, after purchasing 12,535 ETH over the preceding week [1]. At the time of writing, ETH traded at $2,395. According to the corporate disclosure, the treasury sits just short of its stated objective to capture 5% of all issued ETH [1]. Beyond its primary token reserves, the company held 215 $BTC, $582 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $74 million position in Eightco Holdings [1]. Bitmine previously reported passing the [6 million ETH treasury threshold](https://basisdesk.news/news/bitmine-eth-treasury-reaches-6-million-tokens) as part of an accumulation strategy started on June 30, 2025 [1]. ## Institutional Staking Yields Bitmine stated that 5,067,309 of its tokens—roughly 84% of its ETH balance—were actively staked as of Oct. 18, carrying an aggregate valuation of $12 billion based on a $2,365 spot price [1]. Staking operations are managed partly through MAVAN, an institutional validator network deployed earlier in 2026 [1]. Based on a 7-day annualized yield of 2.58%, Bitmine projected current annualized staking revenue at $309 million, which would reach $369 million if all corporate ETH holdings were fully staked [1]. Bitmine Chairman Thomas Lee attributed recent crypto market softness to macroeconomic de-risking, citing semiconductor selloffs in Asian markets, escalating Middle East geopolitical tensions, and rising sovereign bond yields [1]. Despite the broader backdrop, including recent [outflows across US spot ETFs](https://basisdesk.news/news/us-spot-bitcoin-ether-etfs-weekly-outflows-october), the firm continues weekly token allocations as the largest corporate Ethereum treasury [1]. ## Sources 1. [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 6.04 Million Tokens, and Total Crypto and Total Cash & Marketable Securities Holdings of $15.1 Billion](https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-6-04-million-tokens-and-total-crypto-and-total-cash--marketable-securities-holdings-of-15-1-billion-302912118.html) — prnewswire.com, 2026-10-19 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai