Bitmine Immersion Technologies, under the leadership of Thomas Lee, has achieved significant momentum by accumulating a substantial Ethereum treasury. Currently, Bitmine holds around 4.4 million Ethereum coins, which is valued at approximately $8.5 billion. This figure represents approximately 3.7% of the total Ethereum supply currently in circulation. The company aims to reach a 5% stake, indicating it has completed 74% of its designated accumulation goal.
Despite recent price pullbacks in the cryptocurrency market, Bitmine remains committed to its strategy focused on disciplined accumulation. The current market conditions present a unique opportunity, especially with Ethereum’s growing utility and adoption. Bitmine emphasizes a methodical approach to executing its treasury strategy, which includes optimizing yield on Ethereum holdings.
Out of its total Ethereum stash, over 3 million ETH is staked, generating approximately $171 million in annualized revenue from staking. Moreover, Bitmine has plans to launch its staking solution, MAVAN, in the first quarter of 2026, further enhancing its earnings potential.
In terms of treasury scale, Bitmine is second only to Strategy when it comes to the size of global crypto treasuries. Strategy has seen its Bitcoin holdings grow to 717,722 BTC. Additionally, Bitmine holds 193 BTC and maintains a cash reserve of $691 million, alongside strategic investments that include a $200 million stake in Beast Industries and $17 million investment in Eightco Holdings.