Bitmine Immersion Technologies (NYSE: BMNR) reported on April 26, 2026, that it holds 5,078,386 Ethereum (ETH), valued at roughly $12.03 billion based on Coinbase's $2,369 per ETH. Combined with 200 Bitcoin, $940 million in cash, and two “moonshot” investments—$91 million in Eightco Holdings (NASDAQ: ORBS) and $200 million in Beast Industries—total assets reached $13.3 billion.
ETH Stake at 4.21% of Supply, Targeting 5%
Bitmine's ETH position represents 4.21% of the total circulating supply (approximately 120.7 million ETH), surpassing Strategy Inc. (formerly MicroStrategy) as the world's largest Ethereum treasury among publicly traded companies. Chairman Thomas Lee noted that the company acquired 101,901 ETH in the past week, the highest weekly pace since December 15, 2025. "This milestone brings us closer to acquiring 5% of the ETH supply, achieved in just 10 months," Lee said. He added that ETH is in the "final stages of the mini-crypto winter" and cited Etherealize research arguing ETH has become a "wartime store of value," outperforming the S&P 500 by 1,696 basis points since the Iran conflict began.
MAVAN Staking Platform Delivers 3.033% Yield on 3.7M ETH Staked
Bitmine launched MAVAN (Made in American VAlidator Network), an institutional-grade staking platform initially managing its own Ethereum holdings, now expanding to serve outside institutions, custodians, and ecosystem partners. As of April 26, 3,701,589 ETH ($8.8 billion) had been staked, representing 73% of Bitmine's total ETH. The 7-day annualized staking yield from its own operations reached 3.033%, slightly above the Composite Ethereum Staking Rate (CESR) of 3.028% measured by Quatrefoil. Fully staked, Bitmine expects $363 million in annual staking rewards; current annualized revenue stands at $264 million.
Bitmine's stock (BMNR) ranked 129th in U.S. liquidity with average daily dollar volume of $845 million (5-day average), trailing Nike (128th) and ahead of Comfort Systems USA (130th) among 5,704 listed equities. The company recently uplisted from NYSE American to the NYSE main board under the same ticker.