Bitmine Immersion Technologies has deepened its bet on Ethereum, pushing its total crypto, cash and strategic equity holdings to $9.6 billion as it accelerates toward its long-stated goal of owning 5% of the ETH supply.
- Bitmine holds 4.42M ETH (3.66% of supply) and is over 73% toward its 5% target.
- 3.04M ETH are staked, generating about $171M in annualized rewards.
- Total crypto, cash, and strategic holdings reach $9.6B.
- MAVAN staking network is set to launch in Q1 2026.
The company disclosed that it now holds 4,422,659 ETH, representing 3.66% of the circulating Ethereum supply of roughly 120.7 million tokens. At a reference price of $1,958 per ETH, the firm’s crypto treasury places it firmly at the top of global Ethereum treasury holders.
Latest ETH Purchases and Staking Growth
Over the past week alone, Bitmine added 51,162 ETH, continuing a steady accumulation strategy during what its leadership describes as a “mini crypto winter.” The firm views the recent pullback in ETH prices as misaligned with Ethereum’s long-term utility, particularly in tokenization, AI-driven smart contract execution, and the creator economy.
Of the 4.4 million ETH held, 3,040,483 ETH are currently staked – equivalent to approximately $6.0 billion. That represents about 69% of total ETH holdings deployed into yield-generating positions.
Bitmine estimates that once its full Ethereum stack is deployed through its upcoming staking infrastructure and partners, annual staking rewards could reach roughly $249 million, based on a recent 7-day yield of 2.89%. Current annualized staking revenues stand near $171 million.
MAVAN Staking Network on Track
The company’s proprietary staking solution, the Made in America VAlidator Network (MAVAN), remains on track for launch in the first quarter of 2026. Bitmine is currently working with three staking providers as it builds out what it describes as a secure, institutional-grade validation network.
The rollout of MAVAN is central to Bitmine’s strategy of not only accumulating ETH but optimizing yield across its treasury. Management has framed staking as a structural advantage that compounds net asset value per share over time.
$9.6 Billion Treasury Structure
As of February 22, Bitmine’s combined holdings include:
- 4.42 million ETH
- 193 BTC
- $691 million in total cash
- $200 million equity investment in Beast Industries
- $17 million stake in Eightco Holdings
Together, these assets total $9.6 billion across crypto, cash, and what the company refers to as “moonshots.”
Bitmine recently closed the $200 million investment in Beast Industries, adding a sizable strategic equity position alongside its digital asset reserves.
Position Among Crypto Treasuries
Bitmine describes itself as the world’s largest Ethereum treasury and the second-largest public crypto treasury globally, trailing only Strategy Inc., which holds 717,131 BTC.
Unlike Bitcoin-focused treasury firms, Bitmine’s strategy is concentrated primarily on Ethereum, aiming to reach the symbolic “Alchemy of 5%” ownership threshold. After just seven months of accumulation, the company says it is already more than 73% of the way toward that target.
Stock Liquidity and Institutional Backing
Shares of BMNR have also seen elevated trading activity. According to company-cited research, Bitmine ranks as the 165th most traded stock in the United States, with an average daily dollar volume of approximately $0.7 billion over the past five sessions.
The firm lists support from several well-known institutional and crypto-native investors, including Cathie Wood of ARK, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital, Bill Miller III, MOZAYYX, and Thomas “Tom” Lee.
Strategic Outlook
Bitmine’s leadership argues that structural developments in U.S. regulation and financial modernization could serve as a catalyst for digital asset integration into mainstream finance, drawing parallels to historic turning points in the evolution of Wall Street.
For now, the company’s focus remains clear – continue accumulating Ethereum, scale staking infrastructure through MAVAN, and push toward its long-term objective of controlling 5% of the ETH supply.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.