Bitmine Immersion Technologies crossed 5 million ETH in holdings, announcing a total of 5,078,386 ETH valued at approximately $12 billion at current prices. The milestone makes Bitmine the largest Ethereum treasury in the world and represents 4.21% of the total ETH supply, putting the company 84% of the way toward its stated goal of acquiring 5% of all ETH in circulation.

Of the 5.078 million ETH held, 3,701,589 ETH, roughly 73% of its total holdings, is currently staked, generating annualized staking revenues of $264 million at a yield of 3.033%. At full deployment, Bitmine projects annual staking rewards of approximately $363 million. The staking operations run through MAVAN, Bitmine's institutional-grade validator network, which the company recently launched and plans to open to external institutional investors and custodians.

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