Key Highlights
- Bitmine said its ETH buying pace has accelerated over the past three weeks.
- The company said its crypto, cash, and other holdings totaled about $11 billion
- More than 3.1 million ETH from Bitmine’s treasury is now staked, supporting additional yield generation.
Bitmine Immersion Technologies ($BMNR), an Ethereum-focused treasury firm, added 65,341 ETH over the past week, accelerating its Ethereum purchases as the company continued to build what it says is the largest corporate ETH treasury.
According to the official announcement, the company said its crypto, cash, and other holdings totaled about $11 billion as of March 22. This included 4,660,903 ETH, 196 BTC, $1.1 billion in cash, and minority stakes in Beast Industries and Eightco Holdings.
Weekly ETH buying moves higher
Bitmine said the latest weekly purchase exceeded its recent average pace of roughly 45,000 to 50,000 ETH. The company’s Ethereum holdings were valued at about $9.7 billion using an ETH price of $2,072, according to the figures it disclosed. Based on the company’s numbers, those holdings account for about 3.86% of Ethereum’s 120.7 million supply.
The latest update points to a faster accumulation strategy rather than a one-off purchase, with Bitmine indicating that buying activity has increased over each of the past three weeks.
Treasury remains centered on Ethereum
Most of Bitmine’s balance sheet remains tied to ETH. Alongside its Ethereum position, the company reported holding 196 bitcoin, a $200 million stake in Beast Industries, a $95 million stake in Eightco Holdings, and $1.1 billion in cash.
This mix leaves Ethereum as the clear center of Bitmine’s treasury strategy. By the company’s accounting, it remains the largest ETH treasury holder among corporates, while ranking behind Strategy in overall crypto treasury size.
Staking now covers most of holdings
Bitmine also said 3,142,643 ETH had been staked as of March 23, representing about 67% of its total ETH holdings. Using the company’s stated assumptions, this staked ETH was worth about $6.5 billion. Bitmine said the position was generating annualized staking revenue of about $184 million, based on a 7-day staking yield of 2.83%.
The company added that if its full ETH position is staked through MAVAN and partner providers, annual staking rewards could reach $272 million under the same yield assumptions.
Broader push into staking infrastructure
Bitmine linked its treasury buildup to a broader effort to expand its staking operations. The company said it is working with three staking providers as it moves toward the launch of its “Made in America Validator Network,” or MAVAN, which it described as its in-house staking solution. The company said that rollout is planned for early calendar 2026.
This suggests Bitmine is not only accumulating ETH but also increasing the portion of those holdings being put to work through staking infrastructure tied to its own platform strategy.
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