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BitMine’s Ethereum Holdings Rise to 5.18 Million ETH After Weekly Purchase

According to BitMine and Onchain Lens, the company holds 5.18 million ETH, more than 4.29% of Ethereum’s supply, with staking activity lifting its staked total above 4.55 million ETH.

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Fact Check
All key figures in the claim are strongly corroborated by multiple independent, authoritative sources. The Odaily news flash directly cites an official Bitmine PR Newswire press release and confirms the exact total of 5,180,131 ETH and the 101,745 ETH weekly purchase. Wu Blockchain, CoinMarketCap, and Cointelegraph all independently report the same figures on May 4, 2026. The 83% staking figure is confirmed by @cryptodotnews (with Wu Blockchain reporting 4,362,757 staked out of 5,180,131 total, which is ~84.2%, a minor rounding difference). The BTC (200 BTC) and equity positions (Eightco Holdings ~$83M, Beast Industries $200M) are also confirmed by Wu Blockchain and the Odaily source. The only minor discrepancy is the staking percentage: the claim states 83% while the math from the press release figures yields ~84%, but @cryptodotnews explicitly states 83%, suggesting the company itself used that figure. Overall, the claim is highly consistent with the primary source disclosure.
Summary

BitMine Immersion Technologies said it holds 5,180,131 ETH, representing more than 4.29% of Ethereum’s 120.7 million total supply, after previously disclosing a 101,745 ETH weekly purchase for about $235 million at an average price of roughly $2,311. The company said more than 84% of its ETH is operated on its MAVAN staking platform and estimated annual staking revenue at about $297 million. Separately, according to Onchain Lens, BitMine staked 192,816 ETH in a transaction valued at about $456.21 million, lifting its total staked Ethereum to 4,555,573 ETH, worth about $10.69 billion at the time of tracking. Earlier BitMine reporting had described about 83% of its ETH, or 4,362,757 ETH, as staked. BitMine also said it held 200 BTC as of May 3, while earlier disclosures listed $83 million in Eightco Holdings equity and $200 million in Beast Industries shares.

Terms & Concepts
  • Staking: Committing cryptocurrency to support a proof-of-stake network or related infrastructure in return for rewards or yield.
  • ETH: The native cryptocurrency of Ethereum, used for transaction fees, smart contract activity, and staking.
  • MAVAN staking platform: BitMine’s staking platform referenced in company disclosures as the system operating the majority of its Ethereum holdings.