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BTC 
ETH Close to 5% All Ethereum target
Bitmine Immersion Technologies (NYSE: BMNR) is moving towards one of the most ambitious holding targets in the cryptocurrency space. As of July 12, 2026, the company held 5,770,038 Ethereum units, with a total treasury valuation (including cash and strategic holdings) reaching US$11.3 billion based on US$1,820 each.
Positions close to 5%
In the past seven days, Bitmine has added 27,801 Ethereum units, steadily advancing its "5% Alchemy" plan. The company currently controls 4.8% of Ethereum's total circulating supply (120.7 million units) and has achieved 96% of its set target. The company said it expects to reach the full threshold of 5% in 2026.
The scale of this effort is impressive. Bitmine's position makes it the first company in the Ethereum treasury and the second largest company in the global cryptocurrency treasury, behind Strategy Inc.-- The latter reportedly holds 843,775 bitcoins worth approximately US$54 billion. This puts Bitmine in a rare category: Strategy is the only one leading the way in terms of the total value of the cryptocurrency treasury, thanks to its years of Bitcoin accumulation strategy.
Income sources for increased pledge income
In addition to accumulation, Bitmine also generates revenue on its holdings through its "Made in America Verifier Network" launched earlier in 2026. MAVAN was originally developed to support Bitmine's own Ethereum treasury and plans to expand to serve institutional investors, custodians and ecosystem partners. As of July 12, 2026, Bitmine has pledged 4,917,189 Ethereum units, worth approximately US$9 billion at current prices. Under full-capacity operations, the annualized pledge reward is expected to be US$284 million, and the current annualized pledge revenue is expected to be US$242 million.
The company's institutional support for continued growth. Investors include ARK's Cathie Wood, Pantera, Kraken, DCG, Galaxy Digital and Founders Fund. Bitmine was also included in the Russell 1000 Market Cap Index on June 26, 2026, a milestone that broadened its investor base and increased its visibility among index tracking funds.
Data shows that for the five trading days ended July 10, 2026, BMNR's average daily trading volume was US$475 million, ranking 215th among 5,704 U.S. listed stocks. This liquidity situation puts Bitmine ahead of most cryptocurrency-related stocks in terms of market accessibility.
Less than 0.25 percentage points shy of the 5% milestone, and with weekly purchases still ongoing, the company's Ethereum-focused strategy appears to be on track to achieve its stated goals by the end of the year.
