Institutional Crypto Holdings Surge as Corporate Giants Expand Bitcoin and Ethereum Treasuries

Bitmine ETH Holdings Break 5 Million, the Biggest Corporate Stash Ever – 1
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https://extremfdx.com Bitmine crossed 5 million Ethereum tokens on April 27 after buying 101,901 ETH for approximately $236 million, making it the first company in history to hold more than 5 million ETH and the world’s largest corporate Ethereum treasury by a wide margin.

Summary
Bitmine bought 101,901 ETH for approximately $236 million in the week ending April 26, pushing total holdings to 5,078,386 ETH worth roughly $12 billion at $2,369 per coin.
The firm now controls 4.21% of Ethereum’s total circulating supply of 120.7 million tokens, 84% of the way to its stated 5% target.
About 3.7 million of those tokens are actively staked through Bitmine’s MAVAN platform, generating approximately $264 million in annualized staking revenue.
Bitmine ETH holdings officially crossed the 5 million token milestone on April 27 after the company announced total holdings of 5,078,386 ETH as of April 26, purchased at a price of $2,369 per coin. “Bitmine ETH holdings crossed 5 million this past week,” chairman Thomas Lee said. “This is a major milestone as the company moves towards acquiring 5% of the ETH supply.” The latest 101,901 ETH buy was the largest single-week purchase since mid-December 2025.

Bitmine ETH Treasury Reaches 4.21% of Total Ethereum Supply

The 5 million ETH threshold was reached approximately 10 months after Bitmine pivoted from bitcoin mining to a digital asset treasury strategy in June 2025. As crypto.news reported, the company was carrying an estimated $3.5 billion in unrealized losses in February 2026 with average ETH entries around $3,960, but continued accumulating through the drawdown. At $2,369 per coin, the 5,078,386 ETH position is worth approximately $12 billion. Combined with 200 Bitcoin, $940 million in cash, and equity stakes including a $200 million position in Beast Industries and $91 million in Eightco Holdings, total company assets reach $13.3 billion. The firm ranks second among global crypto treasuries overall, behind only Strategy’s 818,334 BTC position worth $63.7 billion. Tom Lee said ETH has outperformed the S&P 500 by 1,696 basis points since the Iran conflict began on February 28, calling it “the ultimate wartime store of value” and attributing its resilience to two structural demand drivers: Wall Street tokenization and agentic AI systems requiring neutral public blockchains.

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MAVAN Staking Platform Generates $264 Million Annually

About 3.7 million ETH, or 73% of Bitmine’s total holdings, are now actively staked through MAVAN, the company’s Made in America Validator Network, which launched in March 2026. As crypto.news documented, Bitmine had been building toward this staking infrastructure since January 2026, with the MAVAN platform designed to serve not only Bitmine’s own treasury but also institutional clients, custodians, and ecosystem partners seeking validator infrastructure. At full deployment, the company projects $363 million in annual staking revenue at a 3.033% seven-day yield. Annualized revenue from the current 3.7 million staked ETH already stands at approximately $264 million. As crypto.news tracked, Bitmine’s staking program began in earnest in late December 2025 when the firm made its first major validator deposit of $352 million, laying the operational foundation for what is now the world’s largest corporate Ethereum staking operation.

The Institutional Backing Behind Bitmine’s Accumulation

Bitmine’s investor roster reflects the depth of institutional conviction behind its ETH thesis. As crypto.news noted, the company’s shareholders include ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, Kraken, Digital Currency Group, Galaxy Digital, and Bill Miller III, alongside Lee himself as a personal investor. The firm uplisted to the New York Stock Exchange main board on April 9, 2026, and has been trading at an average daily dollar volume of $845 million over the five days ending April 24, ranking it 129th among all 5,704 US-listed stocks. BMNR shares showed no movement in pre-market trading following the 5 million ETH announcement, reflecting a market that has largely priced in the accumulation pace.

Bitmine said it remains committed to reaching its “Alchemy of 5%” target, requiring approximately an additional 225,000 ETH to close the gap between the current 4.21% position and the 5% goal.

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Strive asset management now 9th-largest public Bitcoin treasury — 14,557 BTC
Andrew Folkler
By Andrew Folkler
Apr 27, 2026 at 02:14 PM EDT
Dorian Batycka
Edited by Dorian Batycka
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Strive Bitcoin treasury ranking with 14,557 BTC

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Strive Asset Management has raced from zero to 14,557 BTC in months, becoming the 9th‑largest public Bitcoin treasury and turning its balance sheet into a levered bet on BTC.

Summary
Strive Asset Management has boosted its Bitcoin treasury to 14,557 BTC, making it the 9th-largest public corporate holder of the asset.
The firm has scaled from zero BTC in late 2025 to a billion‑dollar balance sheet in months, using equity and preferred stock issuance to fund accumulation.
The move is intensifying debate over public‑company treasury strategies and the emerging “race to accumulate” among non‑crypto‑native corporates.
Strive Asset Management has added another 789 BTC to its balance sheet, lifting its total holdings to 14,557 BTC and pushing it into 9th place among public Bitcoin treasury companies, according to data highlighted by Cointelegraph and BTCtreasuries. The Nasdaq‑listed asset manager, which describes itself as “a Bitcoin treasury asset management firm,” now sits in the same league as miners and software firms that have spent years converting their treasuries into digital assets.

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From zero BTC to a top‑10 treasury in months

Strive’s rise into the top tier of corporate holders has been rapid. In January, the company disclosed it had acquired 333.89 BTC at an average price of about $89,851, bringing its stash to 13,131.82 BTC after financing a $225 million preferred equity raise and using proceeds to pay down debt tied to its acquisition of medical‑tech firm Semler Scientific.

“Strive also announced it has acquired 333.89 bitcoin at an average price of $89,851 and now holds 13,131.82 bitcoin,” the firm said in a January update, adding that this made it “the tenth largest public corporate holder of bitcoin globally.”
Chief investment officer Ben Werkman underscored the pace of the pivot, saying that “in just over four months, Strive has scaled from zero bitcoin to become a top‑10 publicly traded holder,” while emphasizing that long‑duration preferred equity better matches “long‑duration bitcoin exposure” than traditional debt.

Subsequent purchases — including a 113 BTC buy at an average price of about $68,584 and further acquisitions tracked by CryptoRank and Bitcoin Magazine — have lifted Strive’s holdings to 14,557 BTC, vaulting it to 9th place in the latest treasuries tables. BitcoinTreasuries data show public companies collectively hold more than 1.18 million BTC, with Strategy, Twenty One Capital and several miners still ahead of Strive on absolute balances.

Corporate treasury strategy debate heats up

Unlike pure‑play crypto firms, Strive positions itself as an asset manager whose “hurdle rate” for shareholder value is measured in BTC per share, effectively treating Bitcoin as both reserve asset and performance benchmark. A recent Intellectia.ai note described Strive as “the first publicly traded Bitcoin treasury asset management firm,” highlighting that with roughly $143.4 million in cash and equivalents plus digital assets, the company can cover “over 19 years of SATA interest payments,” giving it room to keep accumulating.

This hybrid profile — part asset manager, part balance‑sheet accumulator — is fueling broader discussion about how far non‑crypto‑native corporates should go in emulating Strategy‑style treasury strategies. With public treasuries already sitting on more than $9 billion worth of BTC and new entrants like Strive climbing the rankings, the race to accumulate is no longer limited to miners and software vendors, but increasingly involves financial firms whose core business lies outside of Bitcoin itself.

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