Bitmine Immersion Technologies (NASDAQ: BMNR) announced on Monday that as of March 1, the company’s Ethereum holdings have increased to 44.7 million, accounting for approximately 3.71% of the total Ethereum supply.
Based on a price of $1,976 per ETH, the total value of Bitmine’s ETH holdings reaches $8.8 billion, solidifying its position as the “public company with the largest ETH holdings worldwide,” ranking second among global crypto reserve companies, only behind Strategy.
Despite recent market sentiment being subdued, Bitmine has not slowed down, having purchased an additional 50,928 ETH in the past week alone. Chairman Tom Lee recently stated:
We understand war headlines make investors nervous, but we expect stocks to be up in March:
– led by MAG7, software ETF $IGV, and cryptocurrencies $BTC $ETH
Great speaking with @JoeSquawk @BeckyQuick on CNBC @SquawkCNBC today
PS: as discussed, BitMine @BitMNR continues to steadily buy $ETH…
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) March 2, 2026
Bitmine’s strategy is not simply “HODLing,” but rather focusing on asset productivity. Reports show that approximately 68.7% (about 30.4 million) of the ETH they hold has been staked.
With a staking yield of 2.89%, this staked asset could generate about $171 million in passive income annually for Bitmine. The company plans to launch its own “U.S. Validator Network (MAVAN)” infrastructure this quarter. Once all ETH is staked, the annualized yield could reach $249 million.
Tom Lee added that Bitmine has already partnered with three staking service providers to finalize preparations for the MAVAN launch.
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