Bitmine Immersion Technologies has unveiled a massive $13.1 billion treasury, with ethereum playing the dominant role. As of May 3, 2026, the company holds 5,180,131 ETH valued at approximately $12.1 billion (based on $2,336 per ETH), representing roughly 4.29% of the total global ethereum supply. The remainder of the treasury includes 200 bitcoin, $700 million in cash, and $283 million in “moonshot” investments such as stakes in Beast Industries and Eightco Holdings.
Ethereum Dominance and Strategic Vision
Chairman Thomas Lee characterized the current market as the dawn of a “Crypto Spring,” pointing to the potential passage of the CLARITY Act in the U.S. Senate as a key catalyst. The proposed legislation, which recently saw a compromise in text, aims to regulate stablecoin yields while permitting activity-based rewards. Lee noted that prediction markets now show a better than 60% probability of the bill passing in 2026, calling the compromise “largely acceptable to us.” He emphasized that ETH is increasingly serving as both a store of value and a unit of exchange amid geopolitical instability, outperforming the S&P 500 by 1,380 basis points since the start of the Iran War.
Staking Infrastructure and Revenue Generation
Bitmine has expanded its technical infrastructure through the Made in America Validator Network (MAVAN), an institutional-grade staking platform. As of the disclosure, the company has staked 4,362,757 ETH — roughly 84% of its total holdings — generating an annualized staking revenue of $297 million. In the past week alone, Bitmine acquired an additional 101,745 ETH, demonstrating continued accumulation.
Market Position and Liquidity
Bitmine now holds the largest ethereum treasury in the world and ranks as the second-largest global cryptocurrency treasury, trailing only Strategy (which holds bitcoin valued at $64.2 billion). The company’s stock has seen high liquidity, with an average daily dollar volume of $625 million. According to Fundstrat data, Bitmine ranks as the 173rd most traded stock in the United States, positioned between Cheniere Energy and DoorDash. The company uplisted to the New York Stock Exchange on April 9, 2026, further boosting its institutional visibility. With its ETH holdings now exceeding the 5 million threshold, Bitmine is steadily advancing toward its previously stated goal of capturing 5% of global ethereum supply.