Bitmine Immersion Technologies (NYSE AMERICAN: BMNR), a publicly-traded Bitcoin miner and digital asset treasury company, has announced its total crypto and cash holdings have reached $10.7 billion. The company's holdings are dominated by a massive accumulation of Ethereum (ETH), now totaling 4,732,082 tokens, valued at approximately $6.3 billion based on a price of $2,005 per ETH. This represents 3.92% of the entire ETH supply, putting the company over 78% of the way toward its stated goal of acquiring 5% of all ETH, a strategy it calls "the alchemy of 5%".
Alongside this milestone, Bitmine officially launched MAVAN (Made in America VAlidator Network), an institutional-grade Ethereum staking platform, on March 25, 2026. While initially developed to stake Bitmine's own treasury, MAVAN is intended to expand services to other institutional investors, custodians, and ecosystem partners. As of March 29, 2026, the company has staked 3,142,643 of its ETH (worth $6.3 billion) on the platform, generating an annualized staking revenue of $177 million. At full scale, the company projects annual staking rewards could reach $266 million.
In a statement, Bitmine Chairman Thomas "Tom" Lee commented on the market context, noting, "As the Iran war enters its 5th week, ETH and crypto outperformed the broader market... Crypto is demonstrating itself to be a good 'war time' store of value." He also revealed that the company has accelerated its ETH purchases, acquiring 71,179 ETH in the past week compared to a prior weekly average of 45,000 to 50,000 tokens, citing a belief that ETH is in the final stages of a "mini-crypto winter."
Bitmine's portfolio also includes 197 Bitcoin (BTC), a $200 million stake in Beast Industries, and a $102 million stake in Eightco Holdings (NASDAQ: ORBS), which it categorizes as "moonshots." The company holds $961 million in cash. With its ETH holdings, Bitmine claims the title of the world's largest Ethereum treasury and the second-largest global crypto treasury overall, behind only MicroStrategy Inc. (MSTR) and its Bitcoin holdings.
The company's stock (BMNR) is highly liquid, ranking as the 100th most traded stock in the U.S. with an average daily trading volume of $920 million. Bitmine's strategy is supported by a roster of prominent institutional backers, including ARK Invest's Cathie Wood, Founders Fund, Pantera Capital, Kraken, DCG, and Galaxy Digital.
