Bitmine Surpasses 4 Million ETH, Eyes 5% of Total Supply

Src: Arkham

“Alchemy of 5%”: Bitmine’s Ethereum Ambition

Bitmine has a clear long-term target. The company wants to own 5% of the total Ethereum supply. At its current pace, it has already reached about 67% of that goal.

Chairman Tom Lee highlighted this momentum in a recent statement. He said the firm is moving quickly toward what he calls the “alchemy of 5%.” He also noted that the benefits of holding large ETH reserves are already visible.

More importantly, Bitmine does not view Ethereum as just another balance-sheet asset. Instead, the firm treats ETH as core infrastructure. It sees Ethereum as the foundation for tokenization, staking, and decentralized finance at scale. As a result, Bitmine positions itself as a bridge between traditional finance and on-chain markets.

Staking Plans Take Shape for 2026

At the same time, Bitmine plans to put its ETH to work. Rather than only holding tokens, the company aims to generate yield through staking.

To do this, Bitmine will launch the Made in America Validator Network, known as MAVAN, in early 2026. The company says MAVAN will offer secure, institutional-grade staking infrastructure built specifically for Ethereum.

Lee described the initiative as a best-in-class solution. He added that the goal is to maximize ETH returns while delivering long-term value to shareholders.

Market Reaction and Stock Performance

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Meanwhile, markets have responded strongly to Bitmine’s strategy. Shares of Bitmine (BMNR), which trade on the NYSE American, have surged 606% over the past six months.

This rally largely tracks the company’s aggressive ETH accumulation. As a result, investors now view BMNR as a public-market proxy for Ethereum exposure.

Finally, with ETH trading back near the $3,000 level, Bitmine’s treasury has returned to profit. This comes after the holdings briefly slipped underwater during the October market correction.

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