Bitmine Immersion (BMNR) announced on Monday that its Ethereum (ETH) holdings have continued to grow, reaching 5 million tokens and moving closer to the company’s long-term goal of owning 5% of the total ETH supply. The firm described this update as evidence that a “crypto spring” has begun, and used the announcement to reinforce why it believes ETH matters not just as an asset, but also as a way for investors to diversify.
What’s in Bitmine Immersion’s Portfolio?
According to Bitmine’s disclosure, the company controls more than 4.31% of ETH’s total supply of 120 million coins. The release also breaks down its overall crypto and non-crypto holdings as of May 10. Bitmine reported holding 5,206,790 ETH, valued at $2,366 per ETH, along with 201 Bitcoin (BTC). Beyond these major cryptocurrencies, the company said it has a $200 million stake in Beast Industries, an $88 million stake in Eightco Holdings, and total cash of $775 million.
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Bitmine also provided figures on staking. As of May 10, it said its total staked ETH stands at 4.7 million, which it valued at $11.1 billion using the same $2,366 per ETH reference. The company added that its staked ETH volume is higher than that of other entities globally.
“Bitmine has staked more ETH than other entities in the world,” the company’s CEO Tom Lee said in the release. He continued that, at this scale, the projected staking reward is $352 million annually, based on a 2.86% 7-day BMNR yield. Lee tied the company’s accumulation strategy to broader market drivers. He said the firm wants to highlight the role of owning ETH as a diversification tool, alongside the factors he believes could push the next “crypto bull” phase.
Is ‘Crypto Spring’ Already Here?
Bitmine also disclosed that its buying and staking activity is directly contributing to a reduced circulating supply. Lee stated that, since the start of 2026, the company has acquired over 1 million ETH and accumulated more than 4.3% of the total supply.
He said Bitmine intends to hold and stake its ETH holdings, meaning those coins are effectively removing liquidity from the market. In his words, ETH has been “disinflationary since June 2025” because Bitmine had already removed 4.3% of ETH supply from circulation since June 30, 2025. The company also adjusted its near-term accumulation plan. Lee said Bitmine has decided to slow down the pace of weekly accumulation from a targeted rate of more than 100,000 ETH per week.
Lee said maintaining the earlier pace of weekly purchases would have meant reaching the 5% level by mid-July, but the shift now reflects a change in timing for how quickly the target is approached.
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Lastly, Bitmine pointed to market correlations it believes support its “crypto spring” thesis. The company said ETH prices have been correlated with software stocks.
It stated that both ETH and the software ETF have been moving higher together in recent months. In its interpretation, the recovery in software stocks during 2026 is additional evidence that “crypto spring” has begun. At the time of writing, ETH was trading just below the company’s average purchase price of $2,366, but was still holding on to gains of 2.3% over the previous two weeks.
Featured image created with OpenArt, chart from TradingView.com
Frequently Asked Questions
Here is a list of FAQs about Bitmines ETH holdings and the CEOs announcement written in a natural conversational tone
BeginnerLevel Questions
1 What does it mean that Bitmine holds 52 million ETH
It means the company owns over 52 million units of Ethereum Thats a huge amountworth tens of billions of dollarsmaking them one of the biggest institutional holders of ETH in the world
2 Why would a company hold that much Ethereum
They likely believe the price of Ethereum will go up over time or they use it to power their own cryptorelated services Its a big bet on the future of the Ethereum network
3 Is this good news for regular crypto investors
Many see it as a positive sign When a large professional company holds that much ETH it shows confidence in the market It can also reduce the amount of ETH available to buy which might push prices higher
4 What did the CEO say about a new phase for crypto
The CEO hinted that were moving past the early wild days of crypto into a more mature phase He mentioned things like clearer regulations more big companies getting involved and more realworld uses for crypto
5 Should I buy Ethereum now because of this news
Not automatically News like this can create hype but prices can also drop after big announcements Do your own research think about your risk level and never invest more than you can afford to lose
IntermediateLevel Questions
6 How does Bitmines 52 million ETH compare to other large holders
Its massive For comparison the Ethereum Foundation itself holds around 300000 ETH Bitmines stash is bigger than most countries reserves and puts them in the same league as the biggest crypto exchanges and investment funds
7 Could Bitmine sell all that ETH and crash the market
In theory yesa sudden sale of that size would cause a major price crash But in practice theyd sell slowly to avoid tanking the price Large holders usually use OTC desks or sell in small batches
8 What does staked ETH mean and is Bitmine staking their holdings
Staking