Bitmine reports $10.7 billion in crypto and cash holdings

Bitmine Immersion Technologies Inc. (NYSE American: BMNR) announced its cryptocurrency and cash holdings total $10.7 billion as of March 29, 2026. The company holds 4.732 million Ethereum (ETH) tokens valued at $2,005 per token, representing 3.92% of the total ETH supply.

The company's holdings include 3.142 million staked ETH worth $6.3 billion, 197 Bitcoin, $961 million in cash, a $200 million stake in Beast Industries, and $102 million in Eightco Holdings (NASDAQ: ORBS). Bitmine acquired 71,179 ETH in the past week, exceeding its previous weekly average of 45,000 to 50,000 tokens.

Bitmine launched its MAVAN (Made in America Validator Network) staking platform on March 25, 2026. The platform generated annualized staking revenues of $177 million with a seven-day yield of 2.80%. Chairman Thomas Lee stated that at full scale, ETH staking rewards could reach $266 million annually.

The company ranks as the 100th most traded stock in the United States with average daily trading volume of $920 million over five days as of March 27, 2026. Bitmine trades between Freeport McMoRan and Delta Airlines among 5,704 US-listed stocks.

Lee attributed recent cryptocurrency performance to geopolitical factors, noting that ETH outperformed equities by 1,160 basis points during the Iran conflict's fifth week. He described cryptocurrency as demonstrating value as a "war time" store of value compared to gold, which underperformed by more than 750 basis points.

Bitmine operates as a Bitcoin miner with operations in the United States and maintains what it describes as the largest ETH treasury globally, second only to MicroStrategy Inc. (NASDAQ: MSTR) in total cryptocurrency holdings.

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