Bitmine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR) reported crypto, cash and strategic equity holdings totaling $10.7 billion as of March 29, 2026 (6:00pm ET). The company’s digital-asset and cash position includes 4,732,082 ETH (valued at $2,005 per ETH), 197 BTC, $961 million in cash, a $200 million stake in Beast Industries, and $102 million of ORBS (NASDAQ: ORBS). Bitmine’s ETH position represents roughly 3.92% of the total ETH supply (120.7 million ETH).
Staking and MAVAN
Bitmine disclosed 3,142,643 ETH currently staked (valued at about $6.3 billion at $2,005/ETH). This staked balance is about 66% of the company’s 4.7 million ETH treasury. A portion of that ETH is already delegated to MAVAN (Made-in-America VAlidator Network), Bitmine’s institutional-grade staking platform launched in 2026. MAVAN was developed for Bitmine’s treasury and will be opened to institutional investors, custodians and ecosystem partners.
Staking economics and yields
Bitmine provided current and projected staking metrics: a 7-day Bitmine yield of 2.80% (annualized), the Composite Ethereum Staking Rate (CESR) administered by Quatrefoil at 2.79%, and current annualized staking revenues of $177 million. When MAVAN and its staking partners fully stake Bitmine’s ETH, the company estimates annual staking rewards of $266 million based on a 2.80% 7-day BMNR yield.
Recent accumulation and market commentary
Bitmine increased its pace of ETH acquisition over the prior month, adding 71,179 ETH in the most recent week versus a prior weekly average of 45,000–50,000 ETH. Chairman Thomas “Tom” Lee commented on recent market dynamics, noting that amid the Iran war ETH and crypto outperformed broader markets: ETH outperformed equities by approximately 1,160 basis points while gold underperformed by more than 750 basis points. Lee also highlighted a growing inverse correlation between crypto (and equities) and oil, observing that rising oil prices create a headwind for risk assets and that a reduction in upside oil risk could help bring an end to the crypto winter.
Treasury ranking and liquidity
Bitmine says its crypto treasury is the largest ETH treasury globally and ranks as the #2 global crypto treasury overall, behind MicroStrategy (which holds 762,099 BTC). The company is also among the most actively traded U.S. stocks, with a 5-day average daily dollar volume of $920 million (as of March 27, 2026), ranking #100 by liquidity among 5,704 U.S.-listed names.
Institutional support and strategy
Institutional supporters listed include ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and Tom Lee. Bitmine describes its approach as the “alchemy of 5%,” targeting ETH as its primary treasury reserve asset while using staking and DeFi mechanisms to generate returns.
Investor resources
Chairman’s message, the Fiscal Full Year 2025 earnings presentation and the corporate presentation are available on Bitmine’s investor site. For updates and contact information, visit Bitmine’s investor relations pages.
About Bitmine
Bitmine (NYSE AMERICAN: BMNR) is a U.S.-based Bitcoin miner that deploys excess capital to build a leading global Ethereum treasury and to provide a digital asset strategy for institutional and public market participants. The company launched MAVAN in 2026.
Forward-looking statements
This release contains forward-looking statements about Bitmine’s plans for ETH acquisition and staking and expectations for long-term Ethereum value and staking returns. Actual outcomes may differ materially due to risks including technology, financing, competition and future cryptocurrency price movements. See the Risk Factors in Bitmine’s Form 10-K filed with the SEC on November 21, 2025 and other SEC filings at www.sec.gov. Bitmine is under no obligation to update forward-looking statements except as required by law.