Bitmine Immersion Technologies is rapidly approaching control of 5 percent of Ethereum’s total supply as its holdings climb to 4.8 million ETH.
Key Takeaways
- Bitmine holds 4.8 million ETH, representing 3.98 percent of total Ethereum supply.
- Total crypto, cash, and investments reach $11.4 billion.
- Company set to uplift to the New York Stock Exchange on April 9, 2026.
- Staking operations generate $196 million annually, with further upside expected.
What Happened?
Bitmine Immersion Technologies announced that its Ethereum holdings have reached 4,803,334 tokens, bringing it closer to its ambitious goal of owning 5 percent of the total ETH supply. At the same time, the firm confirmed its upcoming move to the New York Stock Exchange, marking a major milestone in its growth.
LATEST: 💰 BitMine has bought 71,252 Ethereum this past week, bringing its total holdings to nearly 4% of ETH’s circulating supply. pic.twitter.com/G3g2WuOdWH
— CoinMarketCap (@CoinMarketCap) April 6, 2026
Bitmine Expands Ethereum Dominance
Bitmine has solidified its position as the largest Ethereum treasury in the world, now controlling nearly 4 percent of the total circulating supply of 120.7 million ETH. At current prices of $2,123 per ETH, the company’s Ethereum holdings are valued at approximately $10.2 billion.
The firm’s broader balance sheet includes:
- 198 Bitcoin holdings.
- $864 million in cash reserves.
- $292 million in high risk strategic investments, including stakes in Beast Industries and Eightco Holdings.
This brings Bitmine’s total crypto, cash, and investment portfolio to $11.4 billion, placing it among the largest digital asset treasury firms globally.
Aggressive Buying Signals Strong ETH Conviction
The company has accelerated its Ethereum accumulation strategy in recent weeks. Chairman Thomas “Tom” Lee stated:
This aggressive buying reflects Bitmine’s long term belief in Ethereum’s growth, particularly as institutional adoption and blockchain based financial systems continue to expand.
Staking Strategy Creates Recurring Revenue
A key differentiator for Bitmine is its large scale staking operation, powered by its institutional platform MAVAN. Currently, 3.33 million ETH is staked, representing about 69 percent of its total holdings.
This staked position is valued at $7.1 billion and generates:
- $196 million in annual staking revenue.
- 2.78 percent annualized yield, slightly above industry benchmarks.
The company expects this figure to rise to $282 million annually once all ETH holdings are fully deployed into staking.
NYSE Uplisting Marks Major Milestone
Bitmine also confirmed that its shares will begin trading on the New York Stock Exchange on April 9, 2026, transitioning from NYSE American while retaining the ticker BMNR.
The move is expected to increase visibility and attract broader institutional participation. Already, Bitmine is among the top 100 most traded stocks in the United States, with daily trading volumes nearing $987 million.
Its investor base includes major names such as ARK Invest, Founders Fund, Pantera, Galaxy Digital, and Kraken.
Ethereum Positioned as a Market Outperformer
Lee highlighted Ethereum’s recent performance amid geopolitical uncertainty, stating:
Despite broader market pressure, Ethereum has shown resilience, strengthening Bitmine’s conviction in its long term strategy.
CoinLaw’s Takeaway
I see this as one of the boldest institutional bets on Ethereum to date. Bitmine is not just holding ETH, it is building an entire financial engine around it through staking and aggressive accumulation. In my experience, when a company combines conviction with execution at this scale, it often reshapes how the market views that asset. I found the push toward owning 5 percent of supply especially striking because it signals confidence that goes far beyond short term trading.
