Bitmine Immersion Technologies expanded its Ethereum position to 4,976,485 ETH, a level that places the company above 4% of the total ETH supply of 120.7 million tokens. The company confirmed that it now stands about 82% of the way toward its stated target of controlling 5% of Ethereum supply.

The update also shows the scale of Bitmine’s broader balance sheet. The firm reported combined crypto, cash, and equity-linked “moonshot” holdings totaling $12.9 billion. The structure includes ETH, Bitcoin, cash reserves, and minority equity stakes in external companies.

At a reference price of $2,301 per ETH, Bitmine values its Ethereum position at approximately $11.5 billion, forming the largest component of its treasury.

Large weekly ETH purchase reinforces accumulation strategy

Bitmine acquired 101,627 ETH during the week of April 13 to April 19. The company described it as the largest weekly purchase since December 15, 2025. The transaction added more than $230 million worth of ETH based on reported pricing.

The new purchase increased Bitmine’s ETH holdings to 4.97 million tokens, keeping it among the largest corporate holders of Ethereum globally. The firm maintained a steady buying pattern over the past month, which it tied to its internal assessment of market conditions.

Chairman Thomas “Tom” Lee said:

"We see growing signs that the 'mini-crypto' winter is coming to an end. As downside tail risks for the US-Iran war diminish, ETH has risen 41% from its early February lows."

He also noted ETH performance relative to equities:

"ETH has outperformed the S&P 500 by 2,280 basis points since the war started and remains the single best performing asset in the world (beside crude oil prices)."

Staking operations become core revenue engine

Bitmine has expanded Ethereum staking through its MAVAN (Made in America Validator Network) platform. The system supports institutional-grade staking infrastructure and serves both internal treasury operations and external participants.

The company reported that 3,334,637 ETH is currently staked, equal to about 67% of total holdings. At current levels, Bitmine estimates $221 million in annualized staking revenue. Under full deployment, the company projects up to $330 million annually.

Lee stated:

"Bitmine has staked more ETH than other entities in the world."

He added that the firm recorded a 7-day staking yield of 2.88%, compared with a network benchmark of 2.76%.

Broader asset structure extends beyond ethereum

Alongside ETH holdings, Bitmine disclosed additional positions:

  • 199 Bitcoin
  • $1.12 billion in cash
  • $200 million stake in Beast Industries
  • $107 million stake in Eightco Holdings (NASDAQ: ORBS)

These positions form part of what the company describes as its “moonshots” allocation strategy, designed to diversify exposure beyond core crypto assets.

Bitmine said total assets across crypto, cash, and equities now stand at $12.9 billion.

NYSE listing and trading liquidity increase visibility

Bitmine completed its uplisting to the New York Stock Exchange on April 9, 2026, moving from NYSE American. The company continues trading under the ticker BMNR.

The firm also reported elevated trading activity. According to Fundstrat data cited by the company, BMNR averages $1.2 billion in daily trading volume over a five-day period, ranking among the 100 most actively traded stocks in the United States.

Market positioning and institutional backing

Bitmine described itself as the largest Ethereum treasury and the second-largest global crypto treasury after Strategy Inc., which holds Bitcoin reserves. The company also emphasized institutional participation in its shareholder base, including ARK’s Cathie Wood, Pantera, Galaxy Digital, Founders Fund, Kraken, and Digital Currency Group.

The firm framed the GENIUS Act and SEC Project Crypto as structural shifts in financial markets, linking them to broader adoption of blockchain-based financial infrastructure.

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