@BitMNR Bitmine Immersion Technologies (NYSE: BMNR), backed by @fundstrat founder Tom Lee, is closing in on one of the most ambitious accumulation targets in crypto. As of July 12, 2026, the
@BitMNR Bitmine Immersion Technologies (NYSE: BMNR), backed by @fundstrat founder Tom Lee, is closing in on one of the most ambitious accumulation targets in crypto. As of July 12, 2026, the company holds 5,770,038 $ETH valued at $1,820 per token, bringing its total treasury valuation, including cash and strategic stakes, to $11.3 billion.
Bitmine added 27,801 $ETH over the past seven days, keeping its "Alchemy of 5%" initiative firmly on track. The firm now controls 4.8% of Ethereum's total circulating supply of 120.7 million tokens, placing it at 96% of its stated goal. The company says it expects to reach the full 5% threshold sometime in 2026.
The scale of the effort is notable. Bitmine's holdings rank it as the number one Ethereum treasury and the number two global crypto treasury, behind Strategy Inc., which reportedly owns 843,775 BTC valued at approximately $54 billion. That puts Bitmine in rare company: only Strategy, through its years-long Bitcoin accumulation strategy, holds a larger overall crypto treasury by value.
Beyond accumulation, Bitmine is generating yield on its holdings through MAVAN, the Made in America VAlidator Network it launched earlier in 2026. MAVAN was originally developed to support Bitmine's own Ethereum treasury, with plans to expand and serve institutional investors, custodians, and ecosystem partners. As of July 12, 2026, Bitmine had staked 4,917,189 $ETH, worth approximately $9.0 billion at prevailing prices. At full scale, the projected annualized staking reward stands at $284 million, with annualized staking revenues currently projected at $242 million.
The firm's institutional support continues to grow. Backers include ARK's Cathie Wood, Pantera, Kraken, DCG, Galaxy Digital, and Founders Fund, among others. Bitmine was also added to the Russell 1000 Large-cap index on June 26, 2026, a milestone that broadens its investor base and increases its visibility among index-tracking funds.
According to data from Fundstrat, BMNR has traded an average daily dollar volume of $475 million over the five days through July 10, 2026, ranking it 215th among 5,704 US-listed stocks. That liquidity profile positions Bitmine well ahead of most crypto-adjacent equities in terms of market accessibility.
With less than a quarter of a percentage point standing between Bitmine and its 5% milestone, and weekly purchases still running at pace, the company's Ethereum concentration play appears set to reach its stated goal before year-end.
SourcesBitmine Immersion Technologies press release, July 13, 2026 (PR Newswire)Bitmine Immersion Technologies press release, July 6, 2026 (PR Newswire)
