Bitmine Nears 5% Ethereum Supply Goal with $11.5B Portfolio

The company is solidifying its position as the world’s largest public holder of Ethereum, announcing that it now controls 4.8% of the cryptocurrency’s total circulating supply.

Bitmine Closes in on 5% Ethereum Target

As of July 19, Bitmine holds 5,777,468 $ETH, valued at approximately $10.9 billion. This is supplemented by 207 $BTC, cash reserves, and liquid securities totaling $385 million. The firm also maintains strategic investments, including $180 million in Beast Industries and $58 million in Eightco Holdings, bringing its total asset value to $11.5 billion.

Management noted that they have reached approximately 96% of their goal to acquire 5% of all existing tokens, a milestone achieved just one year after launching their aggressive crypto accumulation strategy.

Staking Emerges as a New Revenue Stream

Bitmine has already staked 4.92 million $ETH—roughly 85% of its total holdings—utilizing its proprietary MAVAN (Made in America VAlidator Network) infrastructure. The company values these staked assets at approximately $9.2 billion.

According to Chairman Tom Lee, the full deployment of the platform could generate annual staking revenues of up to $290 million. Current revenue projections for the staking operations stand at approximately $247 million.

In a parallel move, Bitmine revealed that it repurchased 5.5 million common shares over the past week at an average price of $15.62. This activity is part of an approved $4 billion buyback program. The company attributed the slightly slower pace of Ethereum acquisitions in recent days to this capital allocation toward share repurchases.

Strive Continues to Expand Bitcoin Reserves

Meanwhile, the investment firm Strive announced the acquisition of an additional 21 $BTC for approximately $1.3 million, at an average price of $63,221 per token.

Executed between July 13 and July 17, these transactions have increased the company’s total Bitcoin reserves to 19,921 $BTC, valued at about $1.28 billion. Additionally, Strive holds 505,000 shares of Strategy’s STRC preferred stock worth roughly $43 million, alongside approximately $157 million in cash.

Institutions Accelerate the Race for Crypto Reserves

The latest disclosures from Bitmine and Strive highlight how public companies are evolving their digital asset strategies. These firms are increasingly combining direct cryptocurrency purchases with share buybacks, staking, and the development of specialized technical infrastructure.

While Strategy remains the dominant corporate Bitcoin holder, Bitmine is cementing its leadership in the Ethereum space. The competition between public entities is shifting from simple token accumulation toward yield generation and the construction of long-term crypto ecosystems.