Bitmine Reveals $9.6B Crypto Holdings
Bitmine Immersion Technologies (BMNR) announced its Ethereum holdings have reached 4.371 million tokens, bringing its total crypto and cash holdings to $9.6 billion. The company, which holds 3.04 million staked ETH, now owns what it claims is 3.62% of the total ETH supply.
- Bitmine’s strategic shift from a Bitcoin mining company to an Ethereum-First treasury is spearheaded by Chairman Tom Lee, a veteran Wall Street strategist, with the publicly stated goal of acquiring 5% of the total ETH supply. - The company is the largest corporate holder of Ethereum and the second-largest global crypto treasury, trailing only Strategy Inc.'s Bitcoin holdings. - Bitmine is actively staking over 3 million of its ETH tokens, generating significant revenue while preparing to launch its own US-based staking infrastructure called the Made in America Validator Network (MAVAN). - This aggressive accumulation strategy is backed by prominent institutional investors, including ARK's Cathie Wood, Founders Fund, Pantera, and Galaxy Digital. - Prior to its focus on Ethereum, Bitmine specialized in operating Bitcoin mining data centers using advanced immersion cooling technology to enhance hardware efficiency. - In November 2025, the company appointed Chi Tsang as its new CEO to help bridge traditional capital markets with the Ethereum ecosystem. - Beyond its ETH and a small holding of 193 Bitcoin, the company's "moonshots" portfolio includes a $200 million stake in Beast Industries and a $17 million stake in Eightco Holdings. - The company's stock (BMNR) is one of the most actively traded in the U.S. by dollar volume, recently averaging around $900 million per day.
