Bitmine Immersion Technologies disclosed on April 19, 2026 that its Ethereum treasury stands at 4,976,485 ETH – valued at $2,301 per token – with total crypto and cash holdings aggregating to $12.9 billion, up from the $10.7 billion reported in the company’s March 30 disclosure when holdings reached 4.732 million ETH. The increase reflects both continued accumulation and ETH price appreciation since that filing.
At 4.12% of the total ETH supply of 120.7 million tokens, the position places Bitmine within 23,515 ETH of its stated ‘Alchemy of 5%’ target – a threshold that, if crossed, would mean a single corporate treasury controls one in twenty ether tokens in circulation. That is not a liquidity metric. It is a structural one.
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Bitmine ETH Treasury: Breaking Down the 4.976 Million Position
The balance sheet as of April 19, 2026 comprises 4,976,485 ETH as the primary holding, 199 Bitcoin, $1.12 billion in cash, a $200 million stake in Beast Industries, and a $107 million stake in Eightco Holdings (NASDAQ: ORBS), which provides indirect exposure to OpenAI. The ETH position alone, at spot, accounts for the bulk of the $12.9 billion aggregate – a concentration that reflects deliberate strategy rather than diversification failure.
Bitmine ( @BitMNR) bought 101,627 $ETH ($234.7M) last week.
They now hold a total of 4,976,485 $ETH worth $11.49B and has 3,334,637 $ETH ($7.7B) in staking.https://t.co/pshd5JmEM2 pic.twitter.com/3R0o6erWi6
— Onchain Lens (@OnchainLens) April 20, 2026
Of the 4.976 million ETH held, 3,334,637 tokens – approximately 67% of the treasury – are currently staked, carrying a notional value of $7.7 billion at the April 19 price. That staked position generates annualized revenues of $221 million at present, with a projected run-rate of $330 million once the full treasury is deployed through MAVAN (Made in American VAlidator Network), Bitmine’s institutional-grade staking infrastructure launched earlier this year.
Bitmine’s staking program has been expanding steadily, and the MAVAN platform is now positioned to serve external institutional clients beyond Bitmine’s own treasury.
Bitmine’s 7-day staking yield stands at 2.88% annualized – modestly above the Composite Ethereum Staking Rate of 2.76%, as administered by Quatrefoil. The 12 basis-point outperformance over the benchmark rate is a data point the company attributes to operational efficiency in its validator infrastructure. The remaining 33% of ETH – approximately 1.64 million tokens – sits liquid, providing a balance between yield generation and balance sheet flexibility.
The pace of accumulation has accelerated. Bitmine acquired 101,627 ETH in the single week ending April 19 – the highest weekly purchase rate since December 15, 2025 – and has sustained elevated buying across four consecutive weeks. At that velocity, the 5% threshold is arithmetically close. Whether capital availability or market conditions determine the timeline is the remaining variable.
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Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.
