<div id="readability-page-1"><div>Bitmine Immersion Technologies expanded its corporate Ethereum treasury to 5.28 million ETH tokens as of May 17, giving it control of 4.37% of the total circulating ether supply, the company announced Monday.At $2,191 per ETH, the Tom Lee-chaired company's ether holdings are valued at approximately $11.6 billion, ranking it as the largest corporate ETH treasury globally and the second-largest corporate crypto treasury overall behind Strategy's 818,869 BTC position valued at $64.1 billion, according to a statement.The latest figure includes 71,672 ETH acquired in the past week. Bitmine is now 87% of the way to its stated goal of acquiring 5% of the total ether supply, or roughly 6.035 million tokens, a target Lee said the company expects to reach sometime in 2026.Ether traded at above $2,300 early Monday, according to The Block's ETH price page.Staking scale and total balance sheet Bitmine said that 4,712,917 ETH, or approximately 89% of its total holdings, is currently staked, generating $289 million in annualized revenue based on a 2.80% seven-day yield from its staking operations.The company projects staking revenue could reach $324 million annually once its entire ether position is fully staked through the Made in America Validator Network, or MAVAN, according to Lee.MAVAN, an institutional-grade staking platform the company recently launched, was originally developed to support Bitmine's own Ethereum treasury. A portion of Bitmine's ETH is already staked on the platform.Beyond its core ether allocation, Bitmine disclosed a total cash reserve of $685 million. Its non-core corporate investments, categorized as &#34;moonshots,&#34; include 202 Bitcoin, a $200 million position in Beast Industries, and an $83 million equity stake in Eightco Holdings.Bitmine Immersion shares (BMNR) closed at $19.87 on Friday, down 9.68% from the prior session, according to The Block's BMNR price page.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</div></div>

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Bitmine Immersion Technologies has increased its Ethereum treasury to 5.28 million ETH, representing 4.37% of the total supply, valued at approximately $11.6 billion. The company aims to acquire 5% of the total ether supply by 2026. Currently, 89% of its holdings are staked, generating $289 million in annual revenue. Bitmine also holds $685 million in cash reserves and various investments, while its shares closed at $19.87, down 9.68%.

- Bitmine Immersion Technologies announced it has expanded its Ethereum treasury to 5.28 million ETH, representing 4.37% of the total circulating supply.  
- At a valuation of approximately $11.6 billion, this makes Bitmine the largest corporate ETH treasury globally, while also holding a significant cash reserve of $685 million and various non-core investments.  
- The company aims to acquire 5% of the total ether supply by 2026 and has already staked 89% of its holdings, generating substantial annualized revenue from its staking operations.

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BITMINE IMMERSION TECNOLOGIES INC

Bitmine lifts ether treasury to 5.28 million ETH as total holdings top $12 billion