Bitmine Immersion boosts Ethereum holdings to over 5.18M ETH, nearing 5% of total supply.

Bitmine Immersion Technologies increased its Ethereum holdings to 5,180,131 ETH as of May 3, adding 101,745 ETH in the past week. The company has staked 4.36 million ETH, valued at about $10.2 billion, representing over 84% of its total ETH holdings. Bitmine aims to hold 5% of the total Ethereum supply and operates the MAVAN platform to support Ethereum staking for institutional investors. Recent purchases include multiple Ethereum Foundation sales, highlighting Bitmine's ongoing accumulation strategy amid Ethereum's growing role in blockchain and tokenization.