Bitmine Immersion Technologies (NYSE American: BMNR) said its combined crypto, cash and strategic investment holdings reached $11.5 billion as of Mar. 15, with 4,595,562 Ethereum (ETH) tokens forming the core of a treasury the company claims is the largest ETH reserve held by any single entity worldwide.
ETH Accumulation and Strategic Deals
The Las Vegas-based company disclosed it holds 3.81% of the total ETH supply of 120.7 million tokens, valued at roughly $10 billion at a price of $2,185 per ETH.
Its remaining holdings include 196 Bitcoin (BTC), $1.2 billion in cash, a $200 million position in Beast Industries and an $83 million stake in Eightco Holdings (NASDAQ: ORBS).
During the past week, Bitmine boosted its Eightco investment by $80 million after ORBS used $50 million to acquire equity in OpenAI and $25 million for a stake in Beast Industries.
Separately, Bitmine purchased 5,000 ETH directly from the Ethereum Foundation to allow the nonprofit to raise capital without selling on the open market. Bitmine Chairman Thomas "Tom" Lee said the company had also accelerated the pace of purchases, acquiring 60,999 ETH in the past week compared to a recent weekly average of 45,000 to 50,000.
Also Read: Current Bitcoin Cycle Diverges From 2022 Crash Pattern, Analyst Claims
BMNR Stock On The Move
Lee said the buying increase reflects the company's view that ETH is in the final stages of what he called a "mini-crypto winter." He pointed to the Iran conflict period, during which crypto outperformed the S&P 500 by 2,450 basis points in two weeks, arguing that investors turn to crypto alongside growth stocks when global economic concerns mount.
Bitmine also reported that 3,040,515 of its ETH — roughly 66% of its total holdings — are now staked, generating annualized revenue of $180 million.
At full deployment through its upcoming MAVAN staking platform, expected in early 2026, the company projects annual staking rewards of $272 million based on a 2.81% seven-day yield. BMNR stock currently ranks as the 105th most traded equity in the U.S., averaging $1.0 billion in daily dollar volume according to Fundstrat data.
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