TLDR
- Bitmine now holds 4.87M ETH worth $10.7B, making it the largest corporate ether treasury in the world.
- Chairman Tom Lee called ETH “the wartime store of value,” citing a 17.4% gain since the Iran war began.
- 3.33M ETH (68% of holdings) is staked, generating $212M in annualized staking revenue.
- Total company holdings stand at $11.8B, including cash, Bitcoin, and equity positions.
- BMNR is down 32% year-to-date despite the ETH accumulation push.
Bitmine Immersion Technologies (BMNR) has grown its Ethereum treasury to 4.87 million ETH, valued at roughly $10.7 billion. That puts the company 81% of the way to its stated goal of owning 5% of all ETH in existence.
JUST IN: BITMINE ADDS $156M IN ETH, HOLDINGS TOP $10.6B
Tom Lee’s BitMine Immersion Technologies bought 71,524ETH last week- it’s LARGEST accumulation since Dec 2025, bringing total holdings to 4.87M ETH. pic.twitter.com/CyrSNVdYpc
— Coin Bureau (@coinbureau) April 13, 2026
The latest update, released Monday, also confirmed that Bitmine now holds 4.04% of the entire ETH supply, cementing its position as the largest corporate ether holder globally.
Chairman Tom Lee used the update to make a pointed case for Ethereum as a macro asset. He called ETH “the wartime store of value,” pointing to its 17.4% gain in the seven weeks since the Iran war began.
That gain outpaced the S&P 500 by 1,830 basis points and gold by 2,743 basis points over the same period. For Lee, the gold comparison is the headline number.
Bitmine Immersion Technologies, Inc., BMNR
The company bought 71,524 ETH last week alone. That marks the fourth consecutive week of elevated buying, matching the highest accumulation rate seen since late December 2025.
Lee said his base case is that ETH is “in the final stages of the mini-crypto winter.” That framing suggests he sees the current price levels as a buying window, not a warning sign.
Staking Revenue Adds a New Dimension
Of the 4.87 million ETH held, 3.33 million — about 68% — is actively staked. At a 7-day yield of 2.89%, that generates $212 million in annualized staking revenue.
Lee noted that figure could grow to $310 million annually as more of the treasury gets put to work. It’s a meaningful income stream for what is otherwise a treasury-heavy balance sheet.
Total holdings across the company sit at $11.8 billion. That includes $719 million in cash, a $200 million stake in Beast Industries, and an $85 million position in Eightco Holdings (ORBS).
Bitmine describes that Eightco position as “one of the only publicly listed equities in the world to give investors direct exposure to OpenAI.”
The company uplisted from NYSE American to the New York Stock Exchange on April 9, continuing to trade under the BMNR ticker. Average daily dollar volume is $747 million, placing it 117th among all U.S.-listed stocks.
Institutional backers include ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, Galaxy Digital, and Lee himself.
Lee Points to AI and Tokenization as Tailwinds
Lee laid out two specific drivers for Ethereum’s longer-term value: Wall Street tokenizing assets on the blockchain, and agentic AI systems that need public, neutral blockchains to operate.
He’s framing ETH as infrastructure — not just a DeFi token — relevant to both institutional finance and AI development.
Bitmine ranks second among all corporate crypto treasuries overall, sitting behind Strategy’s 766,970 BTC position.
Despite the accumulation story, BMNR stock is down 32% year-to-date. On Monday, it was trading up around 1.50% at approximately $21.54, while ETH itself was hovering near $2,206.
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