Bitmine Immersion Technologies (NYSE: BMNR) announced Monday that its Ethereum holdings have reached 4,874,858 ETH, surpassing 4% of the total supply of the cryptocurrency. The Las Vegas-based company reported total assets in cryptocurrencies, cash, and equity holdings valued at $11.8 billion.
Accelerated Accumulation: 71,524 ETH Purchased in a Single Week
Bitmine Chairman Tom Lee disclosed that the firm bought 71,524 ETH last week, marking the fastest weekly acquisition rate since December 22, 2025. Lee stated that the team sees ETH approaching the end of what he called a “mini crypto winter.” Citing the ongoing conflict with Iran, now in its seventh week, Lee noted: “ETH is the best-performing asset since the war began, up 17.4% and outperforming the S&P 500 by 1,830 basis points. It also outperformed gold by 2,743 basis points, positioning ETH as a war-time store of value.”
Bitmine has staked 3,334,637 of its 4.875 million ETH, valued at approximately $7.4 billion at $2,206 per ETH. The company’s MAVAN (Made in America Validator Network) staking platform delivers a seven-day annualized yield of 2.89%, above the Ethereum Composite Staking Rate of 2.73% managed by Quatrefoil. Annualized staking revenues stand at $212 million, with full MAVAN deployment expected to generate $310 million annually.
Institutional Backing and Asset Composition
Beyond ETH, Bitmine holds 198 BTC, a $200 million stake in Beast Industries, an $85 million stake in Eightco Holdings (Nasdaq: ORBS), and $719 million in cash. Eightco is one of the few publicly traded stocks offering direct exposure to OpenAI. Institutional investors include Cathie Wood’s Ark Investment Management, Founders Fund, Pantera Capital, Kraken, Digital Currency Group, Galaxy Digital, Bill Miller III, and individual investor Thomas Lee.
Bitmine ranks second globally among the largest crypto treasuries by total value, behind Strategy Inc. (Nasdaq: MSTR) which holds 780,897 BTC, but it is the largest Ethereum-focused treasury. The company was uplisted from the NYSE American to the New York Stock Exchange on April 9, 2026, retaining the ticker BMNR. As of April 10, BMNR traded an average of $747 million per day over the prior five sessions, ranking 117th among 5,704 U.S.-listed stocks.
Lee compared the GENIUS Act and the SEC Crypto Project to the August 15, 1971 decision that ended the Bretton Woods system and the dollar’s gold peg, calling both catalysts for a broad restructuring of financial services infrastructure. He pointed to two structural factors supporting ongoing ETH accumulation: Wall Street firms tokenizing assets on the Ethereum blockchain, and autonomous AI systems increasingly operating on public, neutral infrastructure.