TLDR:
- Bitmine purchased 60,999 ETH last week, surpassing its recent weekly average of 45,000 to 50,000 tokens.
- Total holdings now stand at 4,595,562 ETH, representing 3.81% of the entire global Ethereum token supply.
- Bitmine’s staked ETH totals 3,040,515 tokens, generating $180 million in annualized staking revenues at a 2.81% yield.
- Combined crypto, cash, and moonshot assets reached $11.5 billion as of March 15, 2026, per company data.
Bitmine Immersion Technologies purchased 60,999 ETH last week, bringing its total Ethereum holdings to 4,595,562 tokens. The figure represents approximately 3.81% of the global ETH supply.
The company also holds 196 Bitcoin alongside its Ethereum position. As of March 15, 2026, Bitmine’s combined crypto, cash, and “moonshot” assets were valued at approximately $11.5 billion, cementing its place as the world’s largest Ethereum treasury.
Weekly Purchase Marks Accelerated Accumulation Pace
The 60,999 ETH acquired last week exceeded Bitmine’s recent weekly average of 45,000 to 50,000 tokens. Chairman Tom Lee confirmed the company has deliberately raised its purchase pace over the past two weeks.
“In the past week, we acquired 60,999 ETH compared to an average of 45k to 50k weekly recently,” said Lee. He attributed the decision to his view that Ethereum is approaching the end of a “mini-crypto winter.”
The latest purchase brings Bitmine more than 76% of the way toward its stated goal of holding 5% of the global ETH supply. Lee pointed to current macroeconomic conditions as a key factor behind the accelerated buying.
“Since the start of the Iran war, crypto prices have outperformed and Ethereum has outperformed the S&P 500 by 2,450bp,” he stated. He described this as meaningful outperformance achieved in just two weeks.
Lee further explained the broader investment logic driving the pace of accumulation. “In our view, higher oil is triggering concerns of slowing growth for the global economy,” he said.
“And when investors worry about growth, they buy growth stocks including MAG7, software and crypto.” This environment, according to Lee, supports continued Ethereum accumulation at a higher pace.
The company’s total ETH position was valued at approximately $10.04 billion at $2,185 per token as of March 15, 2026. Bitmine’s total cash holdings stand at $1.2 billion, adding further depth to its balance sheet.
The firm also holds a $200 million stake in Beast Industries and an $83 million stake in Eightco Holdings. These positions are classified as “moonshot” investments within Bitmine’s broader portfolio.
Staking Operations and Strategic Moves Support Growth
Of Bitmine’s 4,595,562 ETH, a total of 3,040,515 tokens are currently staked, valued at approximately $6.6 billion. “Annualized staking revenues are now $180 million,” Lee noted, supported by a 7-day yield of 2.81%.
The company is building its own staking platform, the Made in America Validator Network, known as MAVAN. It is expected to launch in early 2026 alongside three current external staking providers.
Lee outlined the scale of what full deployment could deliver for the company. “At scale, the ETH staking rewards is $272 million annually,” he stated, using a 2.81% 7-day BMNR yield as the basis.
The staked ETH already represents about 66% of total company holdings. Bitmine currently stakes more ETH than any other entity worldwide.
Also during the past week, Bitmine acquired 5,000 ETH directly from the Ethereum Foundation to help fund its core operations.
“Bitmine acquired the ETH to demonstrate our support for the goals and operations of EF,” Lee said, adding that the move enabled the foundation to raise capital without selling tokens on the open market.
Separately, Bitmine raised its stake in Eightco Holdings by $80 million. “ORBS is now the only publicly listed equity in the world to give investor direct exposure to OpenAI,” Lee said, ahead of OpenAI’s anticipated 2026 IPO.
BMNR averaged $1.0 billion in daily trading volume over the five sessions ending March 13, 2026. Fundstrat data ranked the stock at #105 among 5,704 US-listed equities, just ahead of Starbucks and behind Nike.
Bitmine ranks second among all global crypto treasuries, trailing only Strategy Inc. and its 738,731 BTC valued at $53 billion. The company continues to raise its crypto net asset value per share at a pace that leads the sector.
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