Bitmine Immersion Technologies announced Monday that its Ethereum holdings have climbed to 4.66 million tokens, helping lift total crypto, cash and 'moonshot' investments to $11 billion as of March 22.
Record Ethereum Treasury
The company reported holding 4,660,903 ETH, valued at approximately $2,072 per coin, alongside 196 bitcoin and $1.1 billion in cash. Additional stakes in Beast Industries and Eightco Holdings bring total reserves to the multi-billion-dollar mark.
Bitmine said its Ethereum position now represents roughly 3.86% of total supply, making it one of the largest ETH treasury holders globally. The firm also disclosed that 3.14 million ETH are currently staked, valued at about $6.5 billion.
Chairman: Ethereum Outperforms Gold
Chairman Tom Lee remarked that Ethereum has outperformed traditional assets during recent geopolitical tensions, noting an 18% increase compared with declines in gold prices. He added that regulatory momentum, including expectations tied to the Clarity Act, could further support Ethereum's outlook.
The company has accelerated purchases in recent weeks, acquiring more than 65,000 ETH in the past week alone, above its prior weekly average. Bitmine said this reflects its view that the market is nearing the end of a downturn phase.
Staking and MAVAN Network
Staking operations remain central to its strategy. Bitmine reported annualized staking revenue of $184 million, with projections reaching $272 million once its MAVAN validator network is fully deployed. The staking platform is expected to launch later this year.
Bitmine also highlighted strong equity market activity, with its stock ranking among the top 101 most traded in the United States, averaging $1.2 billion in daily volume over a five-day period. However, the digital asset treasury company's shares are down 25% year-to-date, and over the last six months, the stock has lost more than 65%.
FAQ
- How much Ethereum does Bitmine hold? About 4.66 million ETH, representing roughly 3.86% of total supply.
- What is Bitmine’s total crypto and cash value? The company reports $11 billion in combined crypto, cash and investments.
- How much ETH is staked by Bitmine? About 3.14 million ETH is currently staked, generating annualized revenue.
- What is MAVAN? MAVAN is Bitmine’s planned staking network expected to launch in 2026.