Catenaa, Friday, March 06, 2026- Bitmine Immersion Technologies announced Monday that its Ethereum holdings have reached 4.47 million ETH, representing 3.71% of the total ether supply and valued at roughly $8.8 billion.
The move positions the firm as the largest corporate Ethereum treasury and second-largest corporate crypto treasury, behind Strategy’s $47 billion bitcoin holdings.
The company added 50,928 ETH over the past week, approaching 27% of its goal to acquire 5% of the total ether supply. Bitmine’s chairman, Tom Lee, described the accumulation as taking advantage of a “mini crypto winter” and said the firm views ether’s fundamentals as strong despite the price pullback.
About 68% of Bitmine’s holdings, or 3,040,483 ETH, are currently staked, generating $172 million in projected annual revenue based on a 2.86% 7-day yield.
The firm expects staking revenue could reach $253 million annually once its full position is staked through the Made in America Validator Network (MAVAN), a dedicated staking infrastructure platform slated for launch this quarter.
Bitmine is currently coordinating with three staking providers to support MAVAN operations.
Beyond ETH, Bitmine has invested $200 million in Beast Industries and holds a $14 million stake in Eightco Holdings.
The firm’s shares traded near $18.98 in pre-market activity. Lee also noted that geopolitical uncertainty, including US combat operations against Iran, could affect financial and digital asset markets in the coming weeks.
