Bitmine's Total Crypto & Cash Holdings Drop $1 Billion to $11.6B; ETH Holdings Reach 5.42M
BMNR has more than doubled off its 52-week low of $3.92.
Summary
Bitmine Immersion Technologies announced its total crypto and cash holdings decreased by $1 billion to $11.6 billion, while its Ethereum holdings grew to 5.42 million tokens, with 4.72 million ETH staked.
Key Events · Financing and Capital Events · BMNR
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Total Holdings Decrease
Total crypto and cash holdings decreased by $1 billion to $11.6 billion as of May 31, 2026, down from $12.6 billion reported on May 18, 2026.
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Continued ETH Accumulation
Ethereum (ETH) holdings reached 5.42 million tokens, representing 4.49% of the total ETH supply. The company acquired 26,497 ETH in the past week.
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Significant Staked ETH Position
Bitmine has 4,718,677 ETH staked, valued at $9.5 billion (at $2,003 per ETH), with projected annualized staking revenues of $258 million.
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Strategic 'Alchemy of 5%' Goal
The company reiterated its goal to acquire 5% of the total ETH supply, expecting to reach this 'Alchemy of 5%' sometime in 2026.
Analysis · BMNR · Crypto Assets
Bitmine Immersion Technologies reported a $1 billion decrease in its total crypto and cash holdings, falling to $11.6 billion from $12.6 billion reported just two weeks prior. This significant reduction in treasury assets, representing approximately 9% of the company's market capitalization, could raise questions about asset volatility or operational cash burn. Despite the overall decline, the company continued to accumulate Ethereum, adding 26,497 ETH in the past week, and highlighted its substantial staked ETH position and projected annualized staking revenues.
At the time of this filing, BMNR was trading at $18.80 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $11B. The 52-week trading range was $3.92 to $161.00. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.