Bitmine Expands Ethereum Treasury to 4,473,587 ETH as Ethereum Price Tests Macro Support

TLDR

• Bitmine holds 4,473,587 ETH, equal to 3.71% of supply.

• 3,040,483 ETH are staked, generating $172M annualized revenue.

• Total crypto, cash, and investments now stand at $9.9B.

• BMNR trades $800M daily, ranking 145th in US stocks.

Bitmine Immersion Technologies has increased its Ethereum holdings to 4,473,587 ETH. The company’s total cryptocurrency, cash, and strategic investments now stand at $9.9 billion. The update comes as Ethereum trades near long-term macro support levels.

As of March 1, 2026, Bitmine held ETH valued at $1,976 per token. The company also reported 195 Bitcoin and $868 million in cash. It confirmed ownership of 3.71% of the total 120.7 million ETH supply.

Ethereum Treasury Growth and Market Position

Bitmine stated that it acquired 50,928 ETH last week. The company described its strategy as a continued accumulation during the current market phase. President Thomas “Tom” Lee said the firm views recent price levels as attractive.

“Bitmine continues to methodically execute its Ethereum treasury strategy,” Lee said. He added that the company continues to steadily acquire ETH and optimize performance.

The firm now ranks as the largest Ethereum treasury globally. It also positions itself as the second largest cryptocurrency treasury overall, behind Strategy Inc.. Strategy holds 717,722 BTC valued at approximately $47 billion.

Bitmine reported that it closed a $200 million investment in Beast Industries. It also holds a $14 million stake in Eightco Holdings. These investments are included in its $9.9 billion total holdings.

Staking Operations and MAVAN Launch

Bitmine confirmed that 3,040,483 ETH are currently staked. At $1,976 per ETH, the staked amount equals about $6 billion. This represents roughly 68% of its total ETH holdings.

The company reported annualized staking revenue of $172 million. It stated that projected annual rewards could reach $253 million when fully deployed through its staking system. The Ethereum Composite Staking Rate stands at 2.83%.

Lee said Bitmine generated a 7-day annualized yield of 2.86%. He also confirmed that the Made in America Validator Network, known as MAVAN, will launch in early 2026. The company is working with three staking providers ahead of the rollout.

Bitmine described MAVAN as a secure staking infrastructure. The system aims to support large-scale validator operations in the United States.

Trading Activity and Institutional Backing

Bitmine shares trade on the NYSE American under the ticker BMNR. According to Fundstrat data, the stock averages $800 million in daily trading volume. It ranks as the 145th most traded stock in the United States.

The company listed several institutional backers. These include Cathie Wood of ARK, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital. Thomas “Tom” Lee also remains a key investor.

Ethereum traded near $1,986 as of early March. Market participants are watching a long-term macro range that has guided price action since 2020. Technical charts show ETH testing the lower edge of a rising support band.

Source: X

Analysts noted that the five-year accumulation range remains intact if support holds. A break below that level would change the current structure. Traders continue to monitor daily closing levels near the macro support zone.

Bitmine stated that it aims to acquire 5% of total ETH supply. With 3.71% already secured, the company has reached more than 74% of that target within eight months.