Bitmine (BMNR) Stock Jumps 4.16% as Ethereum Holdings Hit 5.18M

TLDR

• (SeaPRwire) –   Bitmine’s BMNR stock increases by 4.16% as its ETH holdings grow to 5.18 million tokens

• BMNR bounces back above $22 following Bitmine’s report of $13.1 billion in crypto and cash holdings

• Bitmine has staked 4.36 million ETH, with annualized rewards hitting close to $297 million

• Bitmine, led by Tom Lee, acquired an additional 101,745 ETH over a week to boost treasury expansion

• Sales from the Ethereum Foundation provide context as Bitmine works toward holding 5% of the total ETH supply

Bitmine Immersion Technologies saw gains on Monday after announcing an expanded Ethereum treasury and new staking revenue. BMNR was trading at $22.79—an increase of $0.91, or 4.16%—after bouncing back from an early drop to around $21.88. The stock subsequently rose above $23.00 as the update highlighted its rapidly growing ETH holdings.

Bitmine Immersion Technologies, Inc. (BMNR)

Bitmine Expands Ethereum Treasury

As of May 3, Bitmine stated its Ethereum holdings had reached 5,180,131 ETH. The firm valued this position at $2,336 per ETH, noting it accounted for approximately 4.29% of Ethereum’s total supply.

This update moved Bitmine closer to its publicly stated goal of holding 5% of the total ETH supply. Over the previous week, the company purchased 101,745 ETH, and management noted this latest acquisition continued its accelerated buying streak for the fourth consecutive week.

Bitmine explained its strategy by emphasizing Ethereum’s function in tokenization and public blockchain settlements. The company also connected ETH demand to its broader adoption in AI-powered commerce. This update thus provided new context for BMNR stock’s robust intraday recovery.

Staked ETH Drives Revenue Outlook

As of May 3, Bitmine reported having 4,362,757 ETH staked, valuing this staked position at roughly $10.2 billion—over 84% of its total Ethereum holdings.

Bitmine noted its annualized staking revenue had hit $297 million. Additionally, the company stated that full staking via MAVAN (Made in America Validator Network) and its partners could increase annual rewards to $352 million.

MAVAN was developed by Bitmine to support its own Ethereum treasury activities. However, the company also intends to offer services to institutional clients, custodians, and ecosystem partners, expanding the staking platform’s role beyond internal treasury management.

BTC, Cash, and Recent ETH Sales Add Context

Bitmine disclosed total holdings in crypto, cash, and other listed assets of approximately $13.1 billion. This total includes 5.18 million ETH, 200 BTC, $700 million in cash, and a $200 million stake in Beast Industries.

Bitmine also holds an $83 million position in Eightco Holdings, which trades on Nasdaq under the ticker ORBS. These assets indicate that Bitmine’s balance sheet now goes beyond just accumulating Ethereum, though ETH still remains the core focus of its treasury strategy.

The most recent update came on the heels of another ETH sale from the Ethereum Foundation to Bitmine: the foundation sold 10,000 ETH to the company at an average price of $2,292 per coin, marking the third reported over-the-counter ETH sale to Bitmine in two months.