Bitmine Immersion Technologies said its combined crypto holdings, cash, and what it calls “moonshots” reached $11.0 billion as of 3:00 p.m. ET on March 22, 2026. The company disclosed holdings of 4,660,903 ETH, valued at $2,072 per token, along with 196 BTC, $1.1 billion in cash, a $200 million stake in Beast Industries, and a $95 million stake in Eightco Holdings (NASDAQ: ORBS).
Based on the company’s figures, its ETH position represents 3.86% of the total 120.7 million ETH supply. Bitmine described itself as the largest Ethereum treasury in the world and the second-largest global crypto treasury behind Strategy, which it said holds 761,068 BTC valued at about $52 billion.
Weekly ETH purchases moved higher
Chairman Thomas “Tom” Lee said Bitmine kept up a faster pace of ETH accumulation over the last three weeks. In the most recent week alone, the company bought 65,341 ETH, above its earlier weekly average of 45,000 to 50,000 ETH. Lee said Bitmine’s base case is that ETH is in the final stage of a “mini-crypto winter.”
Lee also pointed to prediction market data from Polymarket, saying the Clarity Act had a better than 68% chance of passage before year-end, which he framed as a favorable fundamental driver for Ethereum. He added that since the start of the Iran war, ETH had risen 18% and outperformed equities by 2,450 basis points, while gold had fallen by more than 15%.
More than 3.14 million ETH already staked
As of March 23, 2026, Bitmine said it had staked 3,142,643 ETH, worth about $6.5 billion at the same ETH reference price. That equals roughly 67% of the company’s total ETH holdings. Bitmine said annualized staking revenue currently stands at $184 million.
Lee said that if Bitmine’s ETH were fully staked through MAVAN and its staking partners, annual staking rewards could reach $272 million using a 2.83% 7-day BMNR yield. He also cited a 2.75% Composite Ethereum Staking Rate, or CESR, administered by Quatrefoil, compared with Bitmine’s own 2.83% annualized 7-day staking yield. The company said it is currently working with three staking providers as it develops MAVAN.
BMNR trading volume ranked 101st in the US
Bitmine also highlighted the liquidity of its stock. Citing Fundstrat data, the company said BMNR posted an average daily dollar trading volume of $1.2 billion on a five-day average basis as of March 20, 2026. That placed the stock 101st among 5,704 US-listed equities, just behind American Express and ahead of Thermo Fisher Scientific.
Bitmine operates as a US-based Bitcoin miner and said it is directing excess capital toward an Ethereum treasury strategy. The company said its goal is to acquire 5% of ETH and use Ethereum as its primary treasury reserve asset through staking and DeFi-based protocol activity. It also named institutional backers including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, and personal investor Tom Lee.