Bitmine Immersion Technologies (NYSE AMERICAN: BMNR) released its latest portfolio snapshot on March 16. As of 7:00 PM ET on March 15, the company held 4,595,562 ETH (valued at $2,185/ETH), 196 BTC, a $200 million stake in Beast Industries, an $83 million “moonshot” investment in Eightco Holdings (NASDAQ: ORBS), and $1.2 billion in cash. Combined crypto and cash assets totaled $11.5 billion.
ETH Stake Equals 3.81% of Supply; Second-Largest Corporate Treasury Globally
Bitmine's ETH position represents 3.81% of Ethereum's total supply (120.7 million ETH), making it the world's largest Ethereum corporate treasury. It ranks second globally among all crypto treasuries, behind Strategy Inc. (MSTR), which holds 738,731 BTC worth roughly $53 billion.
Chairman Tom Lee: Crypto Outpacing S&P 500 by 2,450 bps in Two Weeks
Chairman Thomas “Tom” Lee noted: “Since the start of the Iran war, crypto prices have outperformed, and Ethereum has outperformed the S&P 500 by 2,450 basis points in just two weeks.” He added: “Higher oil is triggering concerns of slowing global growth. When investors worry about growth, they buy growth stocks — including MAG7, software and crypto. As the chart shows, crypto moves in tandem with software stocks.”
Additional $80M into Eightco for OpenAI Exposure
Last week, Bitmine increased its investment in Eightco (ORBS) by $80 million. ORBS had previously acquired a $50 million equity stake in OpenAI and a $25 million stake in Beast Industries. “ORBS is now the only publicly listed equity globally offering direct exposure to OpenAI, which has a highly anticipated IPO in 2026. Eightco has also brought Cathie Wood’s ARK on board as a strategic advisor,” Lee said.
Bought 5,000 ETH from Ethereum Foundation
Bitmine purchased 5,000 ETH directly from the Ethereum Foundation (EF) to support EF's operations without forcing a public sale. “This demonstrates our support for EF's goals,” said Lee.
Accelerating ETH Buys; Staking Yield Reaches $180M Annually
The company quickened its ETH acquisition pace: it bought 60,999 ETH last week, up from a recent weekly average of 45,000–50,000. Lee believes ETH is in the “final stages of the mini-crypto winter.” As of March 15, total staked ETH stood at 3,040,515 ($6.6 billion), generating annualized staking revenue of $180 million. Bitmine's own staking operation delivered a 7-day annualized yield of 2.81%, slightly above the industry CESR benchmark of 2.79%. The company is building its own staking infrastructure, MAVAN (Made-in America VAlidator Network), expected to launch in early 2026.
Trading Volume Ranks 105th Among US Stocks
According to Fundstrat, BMNR shares recently averaged $1 billion daily trading volume (5-day average as of March 13), ranking 105th among 5,704 US-listed stocks, between Nike (104th) and Starbucks (106th).
The company also referenced the GENIUS Act and the SEC's “Project Crypto” as potentially transformative for financial services, akin to the 1971 end of the gold standard, but provided no further elaboration.