Bitmine Immersion Technologies (NYSE AMERICAN: BMNR) disclosed its asset holdings as of March 1, 2026, 2:00pm ET. The company holds 4,473,587 Ether (ETH), 195 Bitcoin (BTC), a $200 million stake in Beast Industries, $14 million in Eightco Holdings (classified as "moonshots"), and $868 million in cash, for a combined value of $9.9 billion. Its ETH position accounts for 3.71% of the total Ethereum supply (120.7 million ETH), making it the world's largest corporate Ethereum treasury—second only to MicroStrategy's Bitcoin holdings globally.
4,473,587 ETH: World's Largest Corporate Ethereum Hoard
Bitmine's Ether stash exceeds that of any other publicly traded company or institution. The firm previously announced a goal to acquire 5% of all ETH in circulation. At a price of $1,976 per ETH (based on COIN reference), the ETH portion alone is valued at roughly $8.84 billion. Combined with cash and moon-shot investments, total exposure reaches $9.9 billion. The company emphasized it is "methodically executing" its Ethereum treasury strategy despite what it called a "mini crypto winter."
Tom Lee: Bought 50,928 ETH in Past Week, Sees Undervalued Opportunity
Chairman Thomas "Tom" Lee stated in the announcement that Bitmine acquired 50,928 ETH over the past week. He views the recent pullback as an attractive entry point, arguing that "the price of ETH is not reflective of its high utility and its role as the future of finance." Lee also noted rising geopolitical uncertainty (U.S. military operations against Iran) but said the company will continue steady acquisitions and yield optimization.
Staked 3.04M ETH, Annualized Revenue of $172M
As of March 1, Bitmine has staked 3,040,483 ETH (worth about $6.0 billion), representing 68% of its total ETH holdings. The company is building its own staking infrastructure, the Made-in America VAlidator Network (MAVAN), set to deploy in early 2026. Currently working with three staking providers, Bitmine generates annualized staking revenue of $172 million, based on a 2.86% 7-day yield. For comparison, the Composite Ethereum Staking Rate (CESR, administered by Quatrefoil) sits at 2.83%, slightly below Bitmine's performance.
Average Daily Trading Volume $800M; BMNR Ranks 145th in US Stocks
Bitmine's stock BMNR is highly liquid. According to Fundstrat data, the stock posted an average daily dollar volume of $800 million (5-day average as of Feb 27), ranking 145th among 5,704 U.S.-listed stocks, behind Datadog (144th) and ahead of Expedia Group (146th). Institutional backers include ARK Invest's Cathie Wood, Mozayyx, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and personal investor Tom Lee.
In the same release, Bitmine referenced the GENIUS Act and the SEC's Project Crypto, calling these regulatory moves as transformative to financial services as the 1971 end of the gold standard. The company believes these changes will create new Wall Street giants and that crypto assets will outperform gold as investment vehicles.
The full chairman's letter and earnings presentation are available on Bitmine's official website (chairman's message and investor relations page).