Key Highlights
- BitMine’s total crypto, cash, and investments now equal $9.9 billion, including 4.47 million ETH.
- The company has 3,040,483 ETH staked, earning annual rewards of about $172 million, with MAVAN staking system launching in Q1 2026.
- BitMine owns 3.71% of all Ethereum and is supported by top investors like Cathie Wood and Thomas Lee.
BitMine, an Ethereum-focused firm led by Tom Lee, reported on Monday that it now holds about $9.9 billion in crypto, cash, and other investments as it keeps building one of the largest digital asset treasuries in the world.
According to the press release, the company said most of this growth comes from buying and staking Ethereum. The company said it owns 4,473,587 ETH, worth about $1,976 each at the time of the report. It also holds 195 Bitcoin and $868 million in cash. Thus if Ethereum gains price Bitmines reserve will grow even without addition of another ETH, though the opposite is also true and slide in ETH can devalue their treasury.
3.71% of total ETH token secured
BitMine has also invested in smaller companies too, including a $200 million stake in Beast Industries and $14 million in Eightco Holdings, which the company calls its “moonshots.”
Following its steady Ethereum accumulation strategy over the last eight months, the company now has 3.71% of all Ethereum tokens in circulation. The company said it is already more than 74% toward its main goal of owning 5% of all Ethereum.
$6B worth in staking operations
Bitmine also reported that it has 3,040,483 ETH staked, which is worth about $6 billion, as of March 1st. Staking means locking up ETH to help run the Ethereum network, and in return, the company earns rewards. BitMine said it currently earns about $172 million per year from staking, and when its staking system is fully running, it could earn about $253 million annually.
“Bitmine continues to methodically execute our Ethereum treasury strategy as we move our way through the later stages of this mini crypto winter.” He added, “In the past week, we acquired 50,928 ETH. Bitmine has been buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals.” Chairman Thomas Lee said in the press release.
Furthermore, the company also reported that it is building its own validator network called MAVAN, short for Made in America Validator Network. The company said MAVAN will launch in the first quarter of 2026, and it is designed to make staking safer and more efficient. BitMine is working with three staking partners to get it ready.
BitMine crypto treasury is the largest for Ethereum in the world and the second-largest overall, only behind Strategy Inc., which holds mostly Bitcoin.
Ethereum drops below $2,000 again
Meanwhile, Ethereum is currently having a bad day due to the conflict in the middle east. At the time of writing, ETH is trading for $1,932, which is down 4% today from an intraday high of $2,019 which it was during early trading hours. This makes it the fifth time the token will trade under $2k in the last 1 week, according to data from CoinMarketCap.
In addition, trading activities are down as traders stay clear of the market. Activity is down by a modest 8% from the previous day to about $20.6 billion in volume, while its market cap sits at $232 billion.
Also Read: Vitalik Buterin Details Plan To Boost Ethereum’s Scalability
