Bitmine Expands Ethereum Holdings as Staking Network Nears Launch
- About 68% of holdings are staked, generating $172M annualized rewards at a 2.83% composite rate.
- The firm controls 3.71% of Ethereum’s supply, nearing its 5% target.
- Total treasury assets reach $9.9B, including Bitcoin, cash, and strategic equity investments.
Bitmine Immersion Technologies disclosed on March 1 that it holds 3,040,483 staked Ethereum valued at $6.0 billion. The disclosure came from the United States and detailed holdings priced at $1,976 per token. The update explained how the company accumulated assets through market purchases and staking operations to expand treasury scale.
Ethereum Accumulation and Staking Breakdown
According to the company, Bitmine added 50,928 ETH during the past week following a market pullback. Notably, management said pricing failed to reflect Ethereum’s utility or financial role. As a result, total Ethereum holdings reached 4,473,587 ETH at the same reference price.
Tom Lee said roughly 3.0 million ETH, or 68% of holdings, remain staked. As a result, annualized staking revenue currently stands at $172 million. Moreover, projected rewards could reach $253 million annually at full scale using recent seven-day yields.
To support that growth, Bitmine works with three staking providers. Meanwhile, the firm continues preparing its MAVAN staking network for a first-quarter 2026 launch. Company figures placed the Composite Ethereum Staking Rate at 2.83%, while internal operations posted a 2.86% annualized yield.
Treasury Scale and Asset Composition
Beyond Ethereum, Bitmine reported holdings of 195 Bitcoin and $868 million in cash. Additionally, the firm disclosed a $14 million position in Eightco Holdings. It also confirmed a recently closed $200 million investment in Beast Industries.
Taken together, crypto assets, cash, and so-called moonshot investments now total $9.9 billion. Furthermore, Bitmine stated its Ethereum position represents 3.71% of the network’s 120.7 million token supply. The company described this as more than 74% progress toward its stated 5% accumulation target.
Market Context and External Comparisons
Bitmine’s Ethereum treasury ranks first globally among ETH-focused entities. It also trails only Michael Saylor’s Strategy among crypto treasuries, according to prior reports. Notably, Strategy disclosed a 3,015 Bitcoin purchase during the same period.
However, market volatility affected reported valuations. Analyst Maartunn said on X that Bitmine holds $7.34 billion in unrealized losses. Meanwhile, Lee told CNBC that geopolitical developments, including U.S. operations involving Iran, continue influencing digital asset markets.
Related Articles
ETH 15-minute decline of 1.25%: leveraged liquidation and on-chain fund outflows jointly drive short-term selling pressure
Data: If ETH breaks through $2,047, the total liquidation strength of short positions on mainstream CEXs will reach $733 million.
Massive ETF Inflows: BTC, ETH, SOL, XRP See $521M Surge
ETH short-term increase of 1.04%: Spot buying driven and deflation expectations resonate to amplify the rally
Bitmine scans another 50,000 ETH! Tom Lee Looks Forward to a Rebound in March