Bitmine Immersion Technologies said its combined crypto holdings, cash reserves, and strategic investments reached $11 billion as of March 22, 2026. In the same update, the company outlined an accelerated Ethereum buying program that pushed its ETH treasury to 4,660,903 ETH, equal to about 3.86% of Ethereum’s stated 120.7 million supply.
Weekly Ethereum purchases moved above prior pace
The company reported buying 65,341 ETH over the past week. That exceeded its earlier average of 45,000 to 50,000 ETH per week. Chairman Tom Lee said this faster pace had been maintained for the last three weeks. Using the article’s reference price of $2,072, the Ethereum position carries a sizable paper value.
Bitmine also disclosed 196 Bitcoin on its balance sheet. Beyond digital assets, it listed a $200 million investment in Beast Industries, a $95 million stake in Eightco Holdings, and $1.1 billion in cash, which the company said supports continued acquisitions.
Two-thirds of holdings are already staked
Bitmine has been expanding staking along with spot accumulation. As of March 23, 2026, the company said 3,142,643 ETH had been deployed across its staking systems, representing roughly 67% of total Ethereum holdings. Tom Lee said Bitmine now stakes more ETH than any other entity worldwide.
Current annualized staking revenue stands at $184 million, according to the company. Bitmine added that the figure could rise to $272 million as operations scale. The estimate is based on a 2.83% seven-day BMNR yield, while the Composite Ethereum Staking Rate was listed at 2.75% using Quatrefoil data.
MAVAN validator buildout is planned for early 2026
The company is also developing its Made in America Validator Network, or MAVAN. Bitmine said it is working with three staking providers ahead of a planned deployment in early 2026, with the network intended to support larger-scale Ethereum validation activity.
Bitmine described itself as the largest Ethereum treasury and the second-largest crypto treasury globally. The company it trails is Strategy, led by Michael Saylor, which holds 762,099 BTC acquired for about $57.69 billion.