Bitmine Immersion Technologies revealed on March 1 that its total Ethereum holdings reached 4,473,587 ETH, valued at approximately $6.0 billion based on a $1,976 per token reference price. Of that, roughly 3,040,483 ETH (68%) are staked, generating annualized staking rewards of $172 million. At full scale using recent seven-day yields, projected annual rewards could hit $253 million.
Portfolio Details and Staking Yields
The firm added 50,928 ETH during the past week following a market pullback, with management stating that pricing has yet to reflect Ethereum's utility or financial role. Bitmine works with three staking providers, achieving a composite staking rate of 2.83% and an internal annualized yield of 2.86%. Its holdings now account for 3.71% of Ethereum's total circulating supply of 120.7 million tokens, surpassing 74% progress toward its stated 5% accumulation target.
MAVAN Staking Network Progress
Bitmine is preparing its proprietary MAVAN staking network for a Q1 2026 launch, intended to expand staking capacity and improve yields. The majority of currently staked ETH is managed through third-party providers, with a gradual migration plan to MAVAN in place.
Total Treasury and Market Context
Beyond Ethereum, Bitmine holds 195 Bitcoin, $868 million in cash, and equity stakes in Eightco Holdings ($14 million) and Beast Industries (a recently closed $200 million investment). Combined crypto assets, cash, and moonshot investments total $9.9 billion. Among ETH-focused entities, Bitmine's Ethereum treasury ranks first globally; among all crypto treasuries, it trails only Michael Saylor's Strategy, which disclosed a 3,015 BTC purchase in the same period.
Market volatility has weighed on valuations, however. Analyst Maartunn noted on X that Bitmine holds $7.34 billion in unrealized losses. Meanwhile, Bitmine's Tom Lee told CNBC that geopolitical developments, including U.S. operations involving Iran, continue to influence digital asset markets.