Bitmine Immersion Technologies reports massive ETH holdings

Bitmine Immersion Technologies reported total holdings of $12.9 billion as of April 19, 2026, underscoring its position as one of the largest corporate holders of digital assets worldwide. The portfolio includes a dominant Ethereum position, modest Bitcoin exposure, substantial cash reserves, and strategic equity stakes.

Asset breakdown and Ethereum concentration

The company disclosed the following holdings:

• 4.976 million Ethereum (ETH)
• 199 Bitcoin (BTC)
• $1.12 billion in cash
• $307 million in strategic equity investments

At an ETH price of $2,301, Bitmine’s Ethereum position is valued at approximately $11.45 billion, or about 4.12% of the current 120.7 million ETH supply. This makes Bitmine’s Ethereum treasury the largest corporate holding of ETH globally and the second-largest crypto treasury overall, behind Strategy Inc., which holds 780,897 BTC worth $58.2 billion.

Staking operations and revenue estimates

Of Bitmine’s total Ethereum holdings, 3,334,637 ETH have been staked, worth around $7.7 billion and representing roughly 67% of its ETH position.

The company projected annual staking revenue of $330 million based on a 2.88% seven-day yield. However, data from Quatrefoil shows the Composite Ethereum Staking Rate at 2.76%, and Bitmine’s latest report lists its current annualized staking income at $221 million.

This gap suggests the higher $330 million figure may be a forward-looking projection assuming higher network activity or fees, while the $221 million figure reflects the present yield environment. Broader Ethereum network data points to an average staking APY of about 2.74%, with roughly 32.26% of eligible ETH supply staked.

Trading activity and market positioning

Bitmine’s shares rank among the 100 most actively traded equities in the United States. Over the five days ending April 17, 2026, the stock recorded average daily dollar volume of $1.2 billion.

Research from Fundstrat places Bitmine 80th by average daily dollar volume, between Uber Technologies and D-Wave Quantum. The company recently uplisted to the New York Stock Exchange on April 9, moving from NYSE American while retaining the ticker symbol “BMNR.”

The size of Bitmine’s Ethereum treasury, now exceeding 4% of total circulating ETH, has effectively repositioned the firm as a systemically important player in the digital asset ecosystem. Its status as a single, publicly traded vehicle with significant on-chain exposure provides a direct route for traders seeking correlation with Ethereum network performance.

MAVAN staking platform and institutional services

Beyond its own treasury operations, Bitmine operates MAVAN, the Made in America Validator Network, an institutional-grade Ethereum staking platform.

Initially built for internal treasury needs, MAVAN has expanded to serve financial institutions and ecosystem partners seeking to participate in staking with operational and compliance support.

Strategic equity holdings and AI exposure

Bitmine’s $307 million in equity investments include:

• $200 million in Beast Industries
• $107 million in Eightco Holdings

The stake in Eightco provides indirect exposure to artificial intelligence technologies, aligning Bitmine’s balance sheet with themes that are attracting increasing attention in public markets.

Backing from major institutions and prominent figures

The company reports a shareholding base that includes ARK Invest, Founders Fund, Pantera, and Galaxy Digital. Individual backers include Bill Miller III and Thomas Lee.

Miller is widely associated with a value-oriented approach centered on future free cash flow rather than conventional valuation metrics, while ARK Invest is known for its focus on disruptive innovation themes. Founders Fund’s participation and Eightco exposure highlight growing crossover between AI and digital assets, and Fundstrat, co-founded by Lee, has been an active commentator and researcher in the crypto space.

Corporate strategy: “Alchemy of 5%”

For fiscal year 2025, Bitmine reiterated its “Alchemy of 5%” initiative, a long-term strategy aimed at eventually owning 5% of Ethereum’s circulating supply.

This accumulation plan is unfolding alongside broader institutional adoption trends. A recent survey from Nomura found that nearly four out of five institutional allocators expect to commit between 2% and 5% of assets under management to cryptocurrencies. The global crypto market capitalization stands around $2.61 trillion, with Bitcoin dominance at about 57.45%. Bitcoin is trading near $75,376, framing Strategy Inc.’s $58.2 billion BTC treasury as a key point of comparison to Bitmine’s ETH-centric approach.

Regulatory disclosures

Bitmine notes that its legal filings, forward-looking statements, and risk disclosures are available through the U.S. Securities and Exchange Commission’s public archives.