TLDR
- Bitmine held 4,534,563 ETH and total crypto and cash holdings of $10.3 billion.
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The company said its ETH position equals 3.76% of Ethereum’s 120.7 million supply.
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Bitmine reported 3,040,483 staked ETH valued at about $6.0 billion at $1,965 per ETH.
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The firm said annualized staking revenue reached $174 million as of March 8, 2026.
Bitmine Immersion Technologies has expanded its Ethereum treasury again. The company now holds 4.535 million ETH and total crypto and cash holdings of $10.3 billion.
The update places Bitmine among the biggest crypto treasury firms by asset value. It also strengthens the company’s position as the largest known Ethereum treasury holder.
Bitmine expands ETH holdings and cash position
Bitmine said its holdings stood at 4,534,563 ETH as of March 8, 2026. The company valued that ETH at $1,965 per token. It also reported holdings of 195 Bitcoin, $1.2 billion in cash, and two equity stakes. These included a $200 million stake in Beast Industries and $14 million in Eightco Holdings.
The company said its Ethereum position now equals 3.76% of the token supply. It based that figure on a total Ethereum supply of 120.7 million ETH. Bitmine added that it is over 75% of the way toward its stated “Alchemy of 5%” target. That target refers to owning 5% of Ethereum’s token supply.
Thomas “Tom” Lee, chairman of Bitmine, said the company increased its pace of ETH buying. He said Bitmine acquired 60,976 ETH in the past week.
Lee said recent weekly purchases had averaged between 45,000 and 50,000 ETH. That rise shows the firm is still building its treasury during recent price weakness.
Staking activity becomes a larger part of the strategy
Bitmine also said 3,040,483 ETH are currently staked. At the company’s stated ETH valuation, that staked position equals about $6.0 billion. Lee said Bitmine’s annualized staking revenue now stands at $174 million. He also said full-scale staking could lift annual rewards to $259 million.
The company used a 7-day BMNR yield of 2.91% for that estimate. It compared that with a Composite Ethereum Staking Rate of 2.84%. Lee said, “Bitmine has staked more ETH than other entities in the world.” He added that the firm is working with three staking providers.
According to Bitmine, its MAVAN staking system remains on track for launch in early 2026. The company described MAVAN as its “Made in America VAlidator Network.”
Treasury scale and market activity set Bitmine apart
Bitmine said its crypto treasury ranks first among Ethereum treasury peers. It also described itself as the second-largest public crypto treasury globally behind Strategy. The company compared itself with Strategy, which it said holds 720,737 BTC. Bitmine’s update focused on Ethereum, though, and on how fast its treasury has grown.
It also pointed to trading activity in BMNR shares. According to Fundstrat data cited by the company, BMNR traded $1.0 billion daily on a five-day average. Bitmine said that trading volume ranks the stock 125th in the United States. It placed BMNR between Eaton and United Airlines on that list.
The company also named several backers in its investor base. These included ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, and Bill Miller III.
Ethereum price view remains tied to accumulation plans
Bitmine linked its treasury expansion to its market view on Ethereum. Lee said crypto prices may be in the late stage of a “mini-crypto winter.”
He said DeMark Analytics found ETH price patterns similar to the S&P 500 in 1987 and 2011. According to Lee, those analogs suggest a possible bottom between March 8 and March 14.
Lee said, “Nobody rings the bell at the bottom.” He added that Bitmine is using that view to increase ETH accumulation slightly.
