Bitmine Immersion’s crypto and cash hoard hits $13.3 billion as ETH stake tops 4% of supply
Bitmine reports $13.3 billion in liquid assets
Bitmine Immersion Technologies disclosed that its combined digital asset and cash holdings reached $13.3 billion as of April 26, 2026.
The portfolio includes:
- 5,078,386 Ethereum (ETH)
- 200 Bitcoin (BTC)
- $940 million in cash
- Equity stakes worth $200 million in Beast Industries and $91 million in Eightco Holdings, alongside other crypto and equity positions.
The company said its ETH holdings now represent about 4.21% of Ethereum’s total circulating supply of 120.7 million tokens, making it the largest known corporate Ethereum treasury worldwide.
Heavy reliance on Ethereum staking income
According to regulatory filings, Bitmine has staked 3,701,589 ETH, worth roughly $8.8 billion, or about 73% of its Ethereum position.
On a 7‑day yield of 3.033%, the company projects:
- Approximately $363 million in annualized staking revenue
- Current annualized staking income near $264 million
This staking income helps fund operations and additional asset purchases without requiring sales of its core Ethereum holdings.
MAVAN builds institutional staking infrastructure
Bitmine conducts its staking activities through MAVAN, the Made in America Validator Network.
MAVAN was developed to provide institutional‑grade Ethereum validator infrastructure and currently supports a portion of Bitmine’s staked assets. The platform is intended to serve custodians and ecosystem partners seeking secure staking solutions, extending Bitmine’s role from asset holder to infrastructure provider within the Ethereum ecosystem.
NYSE uplisting boosts trading activity
On April 9, 2026, Bitmine moved its listing from NYSE American to the New York Stock Exchange, where it now trades under the ticker BMNR.
Data from Fundstrat show that:
- Bitmine ranked among the 150 most‑traded U.S. equities over the five trading days through April 24
- Its shares averaged $845 million in daily trading volume
- Among 5,704 listed companies, it placed 129th by trading value, between Nike and Comfort Systems USA
This trading activity effectively makes BMNR a highly liquid proxy for exposure to a large, actively managed digital asset treasury.
Positioning in the global digital asset hierarchy
Bitmine holds the second‑largest corporate digital asset reserve globally, behind Strategy Inc., which owns 780,897 Bitcoin valued at about $58.2 billion.
The two companies have emerged as reference points for large‑scale corporate strategies around the two dominant cryptocurrencies, with Strategy concentrated in Bitcoin and Bitmine centered on Ethereum.
Concentration risk and market impact on Ethereum
Bitmine’s accumulation strategy has concentrated more than 4.21% of all existing ETH in a single corporate balance sheet, significantly reducing freely circulating supply.
The company has publicly targeted ownership of 5% of total ETH supply, suggesting it will remain a sizeable, persistent buyer in the market. This continued accumulation, combined with extensive staking, may:
- Limit available float in spot markets
- Support a recurring revenue stream that reduces any need to sell ETH during downturns
- Deepen corporate involvement in Ethereum network security through validator operations
Broader portfolio and “moonshot” bets
Beyond Ethereum and Bitcoin, Bitmine has allocated capital to what it describes as high‑growth “moonshot” opportunities:
- $200 million stake in Beast Industries
- $91 million position in Eightco Holdings, which provides indirect exposure to sectors including artificial intelligence via holdings in OpenAI
However, filings note that Eightco’s share price has experienced significant downward pressure over the past year, adding volatility to this part of Bitmine’s portfolio.
Market backdrop and Ethereum fundamentals
Bitmine’s strategy is unfolding against a backdrop of:
- Ethereum trading in a consolidation range of roughly $2,100 to $2,350 in mid‑April 2026
- Network usage, measured by daily transactions, hitting new all‑time highs
This combination of strong on‑chain activity and range‑bound prices has drawn attention to a perceived disconnect between Ethereum’s market valuation and underlying network utilization. For traders, Bitmine’s accumulation and staking program is a prominent example of corporate balance sheet exposure to that perceived gap.
Capital backing and strategic objective
Bitmine said it has support from several major financial institutions and private backers. The company reaffirmed its long‑term objective of:
- Acquiring 5% of the total ETH supply
- Sustaining growth primarily through staking revenues and active treasury management
The scale of its holdings and its NYSE listing ensure that Bitmine remains a focal name for traders tracking large‑cap exposure to digital assets, particularly Ethereum.
Want to better understand Ethereum’s role in portfolios like Bitmine’s? Explore our guide on Ethereum fundamentals today.
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