- Bitmine boosts ETH holdings to $10.7B, nearing its goal of owning 5% of total Ethereum supply.
- Tom Lee backs ETH as a wartime asset despite price dips and weak stock performance.
- Staking strategy drives $212M yearly revenue, with higher returns expected as expansion continues.
Bitmine Immersion Technologies has increased its Ethereum holdings to about $10.7 billion after buying an additional $156 million worth of ETH. The company now holds around 4.87 million ETH, which represents roughly 4.04% of the total Ethereum supply. It continues to move toward its stated goal of owning 5% of all ETH in circulation, according to its latest update.
Chairman Tom Lee described ether as “the wartime store of value,” pointing to ongoing geopolitical and financial uncertainty as part of the reasoning behind the strategy. The firm says it has reached about 81% of its target. However, market conditions have not moved in its favor, with Ethereum slipping to around $2,199 over the weekend.
Despite the aggressive accumulation, Bitmine’s stock fell 2.25% in premarket trading. The decline came alongside weakness in Ethereum’s price. In addition, the company’s shares remain down about 32% year-to-date.
ETH Treasury Expansion and Institutional Positioning
Bitmine Immersion Technologies confirmed that it has moved its listing from NYSE American to the New York Stock Exchange on April 9, 2026. The company’s shares still trade under the ticker BMNR, but the new listing gives it broader market visibility.
In its latest update, Bitmine reported holdings of 4,874,858 ETH, valued at about $2,206 per coin. It also holds 198 Bitcoin, along with $200 million invested in Beast Industries and $85 million in Eightco Holdings. In addition, the company keeps $719 million in cash to support operations and liquidity needs.
With these assets, Bitmine continues to position itself as the largest Ethereum treasury globally. Chairman Tom Lee said ETH has been outperforming traditional markets during periods of global tension. He stated, “ETH is now the best performing asset since the start of the war,” and also pointed to its stronger performance compared with both the S&P 500 and gold.
Staking Growth, MAVAN Launch, and Yield Strategy
Bitmine also launched MAVAN, a staking platform built for institutional Ethereum participation. The system supports large-scale validator operations and allows the company to stake a significant share of its holdings.
Through this setup, Bitmine has staked about 3.33 million ETH, worth roughly $7.4 billion. That amount represents nearly 68% of its total Ethereum holdings. As a result, a large portion of its ETH now generates staking income.
The company said this approach has increased earnings from staking activities. Chairman Tom Lee stated that “Annualized staking revenues are now $212 million.” He also projected that the figure could rise to about $310 million if full deployment continues. Bitmine reports a staking yield of 2.89%, slightly above the broader network benchmark of 2.73%.
Related: Strategy Buys 13,927 BTC For $1B, Holdings Near 781K BTC as Yield Hits 5.6% YTD
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