Key Points
- Bitmine holds 4.732 million ETH, representing 3.92% of total supply.
- Majority of Ethereum holdings are staked through proprietary validator infrastructure.
Bitmine Immersion Technologies (NYSE American: BMNR) announced on March 30, 2026 that its treasury now includes 4.732 million Ethereum (ETH) tokens.
The company reported total cash of $961 million and additional investments, bringing combined holdings to approximately $10.7 billion.
At a reference price of $2,005 per ETH, the firm’s Ethereum position carries a notional value above $9.4 billion.
By token count, this places Bitmine among the largest publicly known corporate holders of Ether.
The company stated it controls 3.92% of the total ETH supply, describing the figure as more than three-quarters of the way toward its internal 5% ownership target.
This accumulation has occurred over roughly eight months, representing one of the larger single-entity acquisition programs among listed companies.
Recent disclosures indicate continued purchases, alongside holdings of 197 Bitcoin (BTC), cash reserves, and minority equity stakes.
The ETH balance has increased while the staked portion has remained broadly stable.
Breakdown of Ethereum Holdings
Of the 4.732 million ETH, 3,142,643 tokens are actively staked through MAVAN (Made in America VAlidator Network), Bitmine’s institutional staking platform launched on March 25, 2026.
At recent prices, the staked portion represents approximately $6.3 billion in value.
Blockchain data from Arkham aligns with the company’s disclosed figures and reflects limited changes to the staking allocation while overall holdings expanded.
This indicates new acquisitions have primarily increased the unstaked treasury balance.
Beyond digital assets, Bitmine reported $102 million in ORBS holdings and $961 million in cash.
Approximately 88% of the firm’s balance sheet is allocated to crypto assets by notional value.
ETH allocated to staking is removed from liquid circulation while generating protocol-level yield.
At the reported scale, the company’s position exceeds typical daily trading volumes on many centralized exchanges.
Ownership Structure and Market Context
Ethereum’s proof-of-stake mechanism enables staked ETH to earn network rewards, commonly estimated in the low single-digit annual percentage range.
If rewards are retained, the staking model may gradually increase proportional ownership without additional capital deployment.
Bitmine has cited backing from institutional investors and digital asset firms, signaling participation beyond retail channels.
The company’s approach resembles public-market treasury strategies previously seen with Bitcoin, where equity capital is used to accumulate digital assets.
According to company data, BMNR ranks among the more actively traded U.S. stocks in recent sessions, averaging roughly $920 million in daily volume over five days.
This liquidity profile may influence both capital access and volatility exposure given the size of its crypto allocation.
Future regulatory filings and earnings updates are expected to clarify whether the firm continues expanding its ETH position toward the 5% threshold.
Current disclosures indicate ongoing accumulation activity.
