On May 4, 2026, Bitmine Immersion Technologies unveiled a total treasury of $13.1 billion, dominated by 5,180,131 ether (ETH) worth approximately $12.1 billion, alongside 200 bitcoin, $700 million in cash, and $283 million in 'moonshot' investments including stakes in Beast Industries and Eightco Holdings. This places Bitmine as the world’s second-largest cryptocurrency treasury, trailing only Strategy’s $64.2 billion bitcoin hoard.
Staking and Yield
Bitmine has staked 4,362,757 ETH — roughly 84% of its total holdings — through its Made in America Validator Network (MAVAN), generating an annualized staking income of $297 million. Over the past week, the company added another 101,745 ETH to its reserve. As of May 3, Bitmine’s ether holdings represent approximately 4.29% of the total global ETH supply, inching toward its 5% target.
Regulatory Catalyst: The CLARITY Act
Chairman Thomas Lee described the current market as the beginning of a 'crypto spring,' citing the potential passage of the CLARITY Act in the U.S. Senate as the primary catalyst. The proposed legislation seeks to regulate stablecoin yields while allowing activity-based rewards. 'This compromise is largely acceptable to us,' Lee stated. Prediction markets now show a >60% probability of the bill becoming law in 2026.
Ethereum’s Strategic Role
Lee emphasized that ether is increasingly functioning both as a store of value and a unit of account, particularly amid geopolitical instability. Since the onset of the Iran conflict, ETH has outperformed the S&P 500 by 1,380 basis points. Bitmine’s stock trades an average daily dollar volume of $625 million, ranking it 173rd in the U.S., between Cheniere Energy and DoorDash. Listed on the NYSE on April 9, the company has amassed this treasury in under a month.
Analysts note that Bitmine’s aggressive accumulation reflects growing institutional recognition of ether as a mainstream asset class. With the CLARITY Act on the horizon and staking infrastructure maturing, Ethereum is poised to attract even more traditional capital.