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Per the recent Ethereum news, Bitmine Immersion Technologies said it held 4,874,858 ETH as of April 12. The company valued that position at about $10.7 billion using an ETH price of $2,206. It said the holdings now represent 4.04% of Ethereum’s 120.7 million circulating supply.
Bitmine also reported total crypto, cash, and other equity positions worth $11.8 billion. The update came days after its move from NYSE American to the New York Stock Exchange.
Ethereum News: Bitmine Nears its 5% ETH target
Bitmine announced its latest ETH balance. The company said it has reached about 80% of its target. This Ethereum news highlights its push to acquire 5% of the total supply.
Chairman Tom Lee said the company bought 71,524 ETH over the past week. He described that pace as the fastest weekly accumulation since the week of Dec. 22, 2025. The company has built its treasury over roughly nine months.
The latest disclosure keeps Bitmine at the top of the corporate Ethereum treasury category. The company also said it ranks behind only Strategy among listed firms holding large crypto reserves.
In addition to its ETH balance, Bitmine reported ownership of 198 BTC. It also listed $719 million in cash, a $200 million stake in Beast Industries, and an $85 million stake in Eightco Holdings.
Staking Operations Add a New Revenue Stream
Bitmine said 3,334,637 ETH from its treasury is now staked. At the reported ETH price, that portion is worth about $7.4 billion.
The company said this amount equals about 68% of its total ETH holdings. Based on a 2.89% seven-day staking yield, Bitmine placed annualized staking revenue at $212 million.
The company said annual staking rewards could rise to $310 million if its full ETH treasury is staked. Bitmine tied that growth plan to MAVAN, its Made in America Validator Network.
The firm launched the platform as an institutional staking operation. MAVAN was built to support Bitcmine’s internal treasury first. However, it may also serve custodians, institutions, and ecosystem partners.
Ethereum Price Prediction as ETH Breaks Resistance
Ethereum price reclaimed $2,300 on Monday after rallying over 6%. At the same time, Bitmine released its treasury update. The altcoin gained momentum and remained above the earlier $2,100 support zone, with the next resistance near $2,400.
On the daily chart, the broader structure remained capped by a descending channel. The 100-day moving average near $2,400 and the 200-day moving average near $2,900 continued to sit above the price.
At the same time, RSI readings improved from the February lows. On the four-hour chart, support near $2,200 remained in focus, while a move above $2,400 would mark a stronger short-term shift.
The market analysis also pointed to a lower exchange-held ETH supply. The exchange supply ratio was listed at 0.126, which marked a multi-year low.
That reading showed less ETH available for immediate sale on exchanges. Past cycles have often linked lower exchange balances with tighter spot supply.
Bitmine keeps adding to its ETH holdings. The accumulation strengthens the supply narrative. This Ethereum news shows the company edging closer to 5% of the circulating total.
