Las Vegas — Bitmine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR) says its combined crypto, cash and strategic equity stakes now total $11.0 billion as of March 22, 2026. The company, which focuses on building a long-term crypto treasury centered on Ethereum, reported holdings that include 4,660,903 ETH and other assets.
Holdings snapshot (as of March 22, 2026, 3:00pm ET):
– Ethereum: 4,660,903 ETH, valued at $2,072 per ETH
– Bitcoin: 196 BTC
– Equity stakes: $200 million in Beast Industries and $95 million in Eightco Holdings (NASDAQ: ORBS)
– Cash on hand: $1.1 billion
Bitmine’s Ethereum position represents roughly 3.86% of the total ETH supply (120.7 million ETH).
Staking and MAVAN
Bitmine reports 3,142,643 ETH currently staked (about 67% of its ETH holdings), which at $2,072 per ETH equates to approximately $6.5 billion. The company cites a 7-day staking yield of 2.83% (annualized), compared with a Composite Ethereum Staking Rate (CESR) of 2.75% per Quatrefoil. At the reported yield, annualized staking revenues are roughly $184 million; Bitmine estimates that at full scale—when additional ETH is staked via MAVAN and partners—staking rewards could reach about $272 million annually using the 2.83% rate.
MAVAN (Made-in-America VAlidator Network), Bitmine’s in-house staking infrastructure, is on track for deployment in early 2026. The company is working with three external staking providers as it prepares MAVAN’s launch and scales its protocol-level activities.
Market position and liquidity
Bitmine says it is the largest public Ethereum treasury and the second-largest global crypto treasury behind MicroStrategy (NASDAQ: MSTR), which holds 761,068 BTC. The company notes it has achieved 3.86% of ETH supply and is “over 77% of the way” to a stated target it calls the “Alchemy of 5%,” which it expects to reach within eight months if current acquisition trends continue.
The company also highlights heavy trading liquidity in its stock, reporting a 5‑day average daily dollar volume of $1.2 billion as of March 20, 2026, ranking it #101 among U.S.-listed stocks. Bitmine lists several institutional and notable supporters, including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and Tom Lee.
Market commentary and catalysts
Chairman Thomas “Tom” Lee pointed to Ethereum’s recent outperformance amid geopolitical volatility, noting ETH had risen 18% since the Iran war began and had outpaced equities during that period while gold fell more than 15%. Bitmine also flagged potential regulatory catalysts: prediction markets on Polymarket show more than a 68% chance the Clarity Act will be signed in 2026, an outcome Bitmine believes would be positive for Ethereum.
The company described recent conditions as a “mini-crypto winter” nearing its end and said it has accelerated ETH purchases in recent weeks—buying 65,341 ETH in the most recent week compared with a prior weekly average of 45k–50k.
Investor materials and contacts
Bitmine’s chairman letter, its fiscal 2025 earnings presentation and other investor documents are available on the company’s investor relations site. For news and updates, Bitmine directs investors to its website and X: @bitmnr.
About Bitmine
Bitmine (NYSE AMERICAN: BMNR) operates U.S.-based Bitcoin mining and pursues an institutional digital asset strategy that positions Ethereum as its primary treasury reserve asset. The company participates in protocol-level activity such as staking and DeFi and plans to use MAVAN to support its staking operations.
Forward-looking statements
The company’s announcement includes forward-looking statements about future ETH acquisitions and staking, the expected benefits of MAVAN, projected staking rewards and other future financial performance. These statements involve risks and uncertainties—such as market price volatility, technological changes, regulatory outcomes and financing risks—that could cause actual results to differ materially. Bitmine refers readers to its SEC filings for additional risk factors and disclaims any obligation to update forward-looking statements except as required by law.