BitMine Buys 126,659 More Ether, Lifting Holdings Above 5.2 Million ETH

BitMine, the world’s largest corporate holder of Ether, bought 126,659 ETH over the past week, raising its total holdings to 5,206,790 ETH. That equals 4.31% of Ether’s circulating supply of 120.7 million tokens.

A PR Newswire release on May 11 said BitMine held 5,206,790 ETH as of May 10. At an Ether price of $2,366, the holdings were valued at about $12.3 billion.

BitMine’s crypto, cash and strategic investment assets totaled $13.4 billion. They include about 5.21 million ETH, 201 Bitcoin, $775 million in cash, a $200 million stake in Beast Industries and an $88 million stake in Aethir Holdings (ORBS).

The company said 4,712,917 ETH are currently staked. At $2,366 per token, that stake is worth about $11.1 billion and accounts for more than 90% of its total Ether holdings. Its annualized seven-day staking yield was 2.86%, implying about $319 million in annual staking income. If all of its Ether were staked, estimated annual rewards would be about $352 million.

Chairman Tom Lee said “crypto spring” has begun. If Ether closes above $2,100 at the end of May, it would mark a third straight monthly gain, something he said would be unprecedented during a crypto bear market. He added that Ethereum is benefiting from two main drivers: Wall Street’s expansion into tokenization and demand from agentic AI.

Lee also said BitMine has bought more than 1 million ETH so far in 2026 and has accumulated more than 4.3% of Ether’s supply. By holding and staking those tokens for the long term, the company is effectively reducing the amount of Ether available in the market.

The company also said it recently decided to scale back its weekly buying pace from more than 100,000 ETH. Maintaining that pace could have allowed it to reach its goal of controlling 5% of Ether supply in July, but it chose a more gradual approach.