TL;DR
- BitMine expanded its Ethereum treasury to 4,243,338 ETH, equivalent to $12.3 billion and 3.52% of Ethereum’s circulating supply.
- The company has 2,009,267 ETH in staking, generating estimated annual revenue of $374 million, and is preparing to launch its MAVAN network in the first quarter of 2026.
- It also holds 193 BTC, $682 million in cash, and stakes in Beast Industries and Eightco.
BitMine Immersion significantly increased its Ethereum treasury, reaching a total of 4,243,338 ETH after acquiring an additional 40,302 ETH over the past week. At current market prices, these holdings are worth around $12.3 billion and represent 3.52% of ETH’s circulating supply, estimated at 120.7 million tokens.
The company continues advancing toward its goal of controlling 5% of the ETH supply, equivalent to approximately 6.04 million tokens. In six months, BitMine has already achieved nearly 70% of that target. With this volume, it stands as the largest Ethereum treasury holder globally, ahead of SharpLink, with around 863,000 ETH, and The Ether Machine, with roughly 496,700 ETH.
BitMine Prepares for MAVAN Launch
Of the total ETH held by the company, 2,009,267 tokens are currently staked. That amount grew by 171,264 ETH over the past week and represents roughly half of the total holdings. With a CESR rate of 2.81%, full staking of the portfolio would generate estimated annual revenue of $374 million. The company is working with three providers while advancing the deployment of its own validator network, MAVAN, scheduled for the first quarter of 2026.
In addition to Ethereum, BitMine holds 193 BTC, $682 million in cash, a $200 million stake in Beast Industries, and a $19 million investment in Eightco Holdings. The Beast Industries investment closed in January and is initially recorded at cost within the company’s internal “moonshots” segment.
Top 100 Most-Traded Stocks
BitMine shares rank among the most actively traded in the U.S. market. According to Fundstrat data, BMNR recorded an average daily trading volume of $1.2 billion over the past five days, placing it 91st among more than 5,700 U.S.-listed companies.
The company also ranks as the second-largest public crypto treasury firm globally, behind Strategy, which holds over 700,000 BTC. BitMine is backed by institutional investors including ARK Invest, Founders Fund, Pantera, Galaxy Digital, DCG, Kraken, and Bill Miller III, in addition to direct participation from Tom Lee
