Bitmine Immersion Technologies announced on May 4, 2026, that its total holdings—including cryptocurrency, cash, and strategic investments—have reached $13.1 billion. The disclosure came just weeks after the company's listing on the New York Stock Exchange on April 9. As of May 3, Bitmine reported a treasury comprising 5,180,131 ETH—representing approximately 4.29% of the total global supply—and 200 bitcoin. Valued at $2,336 per ETH, the company's ethereum holdings alone are worth roughly $12.1 billion. Additionally, the company holds $700 million in cash and $283 million in "moonshot" investments, including stakes in Beast Industries and Eightco Holdings.
Bitmine 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 a primary catalyst. The proposed legislation, which recently received a compromise on its text, aims to regulate yields on stablecoins while allowing activity-based rewards. "This compromise is largely acceptable to us," Lee said, noting that prediction markets now show a >60% probability of the bill passing in 2026.
Ethereum Dominates Holdings and Drives Growth
Lee emphasized that ETH is increasingly functioning as both a store of value and a unit of account, especially during geopolitical instability. Since the start of the Iran conflict, ETH has outperformed the S&P 500 by 1,380 basis points. Over the past week, Bitmine purchased an additional 101,745 ETH. The company has also expanded its technical infrastructure through the Made in America Validator Network (MAVAN), an institutional-grade staking platform. Bitmine has already staked 4,362,757 ETH—roughly 84% of its total holdings—generating an annualized staking income of $297 million.
Company data indicates that Bitmine now possesses the world's largest ethereum treasury and the second-largest global cryptocurrency treasury, behind only Strategy, which holds bitcoin valued at $64.2 billion. The stock enjoys high liquidity, with an average daily dollar volume of $625 million. According to Fundstrat data, Bitmine is currently ranked as the 173rd most traded stock in the U.S., sandwiched between Cheniere Energy and DoorDash.
Regulatory Outlook and Industry Impact
Thomas Lee expects the CLARITY Act to be enacted in 2026, which he believes will drive agentic AI trading and growth in ETH staking. The company's treasury strategy underscores a long-term conviction in the ethereum ecosystem. With its substantial cash buffer and moonshot investments, Bitmine is well-positioned to navigate market volatility while continuing to accumulate digital assets.