Holdings Surge to $11.5B as ETH Accumulation Accelerates
Bitmine Immersion Technologies announced on March 16, 2026, that its total assets have grown to $11.5 billion. The report, reflecting data as of March 15, details a treasury composed of 4,595,562 Ethereum tokens valued at over $10 billion (at $2,185 per ETH), a substantial $1.2 billion cash position, and strategic investments in other companies. This aggressive accumulation strategy now gives the company ownership of 3.81% of the entire circulating ETH supply. The firm’s pace has quickened recently, with the acquisition of 60,999 ETH in the past week alone as it pushes towards its stated goal of acquiring 5% of all ETH.
Staking Generates $180M Annually as Firm Eyes OpenAI Exposure
The company is monetizing its vast holdings through staking, with 3,040,515 ETH currently locked to secure the Ethereum network. This operation generates an estimated $180 million in annualized revenue. Bitmine plans to fully stake its entire ETH treasury upon the launch of its proprietary Made in America Validator Network (MAVAN) in the first quarter of 2026, which it projects could increase annual staking rewards to $272 million. Beyond its core Ethereum strategy, Bitmine is expanding its 'moonshot' portfolio. The company increased its investment in Eightco (ORBS) by $80 million to support ORBS's $50 million equity purchase in OpenAI, creating a vehicle for public investors to gain exposure to the prominent AI firm ahead of its anticipated IPO. In another strategic move, Bitmine acquired 5,000 ETH directly from the Ethereum Foundation, providing the foundation with operating capital without impacting open market prices.
BMNR Daily Volume Hits $1B as Lee Cites Crypto Outperformance
Investor interest has made Bitmine's stock (BMNR) the 105th most traded in the United States, with an average daily trading volume of $1.0 billion. This high liquidity comes as the stock shows volatile performance, gaining 172.8% over the past year but declining 33.5% year-to-date. Chairman Thomas Lee contextualized the firm's strategy, noting that macroeconomic uncertainty is driving capital toward growth-oriented assets, including cryptocurrencies.
Since the start of the Iran war, crypto prices have outperformed and Ethereum has outperformed the S&P 500 by 2,450bp. In our view, higher oil is triggering concerns of slowing growth for the global economy. And when investors worry about growth, they buy 'growth stocks' including MAG7, software and crypto.
— Thomas "Tom" Lee, Chairman.
