Bitmine Immersion Technologies has significantly increased its exposure to Ethereum, purchasing tens of thousands of ETH in the past week as the firm continues building one of the largest known corporate crypto holdings.
In its latest portfolio update released on March 16, 2026, the company revealed that it acquired 60,999 ETH during the previous week. The purchase pushes Bitmine’s total Ethereum holdings to 4,595,562 ETH, representing roughly 3.81% of Ethereum’s circulating supply.
The update also shows that the company’s broader portfolio, which includes crypto assets, cash reserves, and venture-style investments the firm describes as “moonshots”, is now valued at approximately $11.5 billion.
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BitMine provided its latest holdings update for March 16, 2026:$11.5 billion in total crypto + "moonshots":
– 4,595,562 ETH at $2,185 per ETH (@coinbase)
– 196 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $83 million stake in…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) March 16, 2026
The disclosure underscores Bitmine’s continued conviction in Ethereum as a strategic asset while highlighting the growing role of institutional players in the broader crypto ecosystem.
Ethereum Remains The Core Of Bitmine’s Crypto Strategy
Ethereum dominates Bitmine’s balance sheet by a wide margin. According to the company’s latest report, the firm holds 4,595,562 ETH, valued at approximately $2,185 per token based on prices observed on Coinbase.
That single position alone represents the vast majority of Bitmine’s digital asset exposure and places the company among the largest known holders of Ethereum globally.
Alongside its ETH holdings, Bitmine also maintains a smaller allocation to Bitcoin, holding 196 BTC as part of its crypto treasury.
While Bitcoin remains the largest cryptocurrency by market capitalization, Bitmine’s strategy appears clearly centered on Ethereum. The company has consistently expanded its ETH position over time, suggesting strong confidence in the network’s long-term growth potential and its role as a foundational platform for decentralized applications.
Ethereum’s position within Bitmine’s portfolio reflects a broader institutional trend where firms increasingly view ETH not only as a cryptocurrency but also as a productive asset capable of generating yield through staking.
Staked Ethereum Holdings Continue To Grow
A significant portion of Bitmine’s Ethereum holdings is actively staked, allowing the company to earn rewards for participating in the network’s proof-of-stake validation process.
As of March 15, 2026, the company reported that 3,040,515 ETH from its treasury had been staked. At the current valuation of $2,185 per ETH, those staked assets are worth approximately $6.6 billion.
Staking allows ETH holders to lock their tokens in validator nodes that help secure the Ethereum network. In return, participants earn staking rewards, creating an additional revenue stream for large holders such as Bitmine.
The company’s staking activity has remained relatively stable in recent weeks. The latest weekly staking figures reveal the following totals:
- 3/15/26: 3,040,515 ETH
- 3/8/26: 3,040,483 ETH
- 3/1/26: 3,040,483 ETH
- 2/23/26: 3,040,483 ETH
- 2/17/26: 3,040,483 ETH
- 2/8/26: 2,897,459 ETH
- 2/1/26: 2,897,459 ETH
- 1/26/26: 2,009,267 ETH
- 1/19/26: 1,838,003 ETH
- 1/11/26: 1,256,083 ETH
- 1/4/26: 659,219 ETH
- 12/28/24: 408,627 ETH
The data shows how quickly Bitmine scaled its staking operations over the past year. From holding just over 408,000 ETH staked in late 2024, the firm has expanded that number more than sevenfold.
This rapid growth reflects both aggressive accumulation and the company’s push to become a major validator participant within the Ethereum ecosystem.
Portfolio Includes Bitcoin, Cash And “Moonshot” Investments
Beyond its large crypto treasury, Bitmine also holds several strategic investments and cash reserves that contribute to its $11.5 billion total asset valuation.
According to the company’s latest breakdown, the portfolio includes:
- 4,595,562 ETH valued at roughly $2,185 per ETH
- 196 Bitcoin (BTC)
- $200 million stake in Beast Industries, the company associated with YouTube creator MrBeast
- $83 million stake in Eightco Holdings (NASDAQ: ORBS), categorized as a “moonshot” investment
- $1.2 billion in total cash reserves
These non-crypto investments are labeled internally as “moonshots,” suggesting that Bitmine views them as high-growth opportunities with potentially outsized returns.
The inclusion of traditional equity positions alongside digital assets signals that Bitmine is positioning itself not just as a crypto treasury company but as a hybrid investment firm bridging blockchain and broader technology sectors.
Maintaining a substantial cash reserve also provides the company with flexibility to pursue additional acquisitions, investments, or crypto purchases as market opportunities arise.
MAVAN Validator Network Plans Move Forward
Bitmine is also preparing to expand its infrastructure role within the Ethereum ecosystem through a project known as MAVAN, short for Made in America Validator Network.
The initiative aims to establish a large-scale validator network designed to support Ethereum staking operations at an institutional level. According to the company, the network is expected to launch commercially in 2026.
As part of the preparation process, Bitmine is currently working with three different staking providers to manage portions of its staked ETH holdings.
The company’s approach appears focused on distributing staking responsibilities across multiple providers, which can help reduce operational risks while improving redundancy and performance.
Once MAVAN launches, Bitmine intends to integrate its validator operations more directly into its own infrastructure, potentially giving the company greater control over staking performance and reward generation.
The development also aligns with a broader industry trend where large crypto holders seek to move from passive asset ownership toward more active participation in blockchain networks.
Tom Lee Says Crypto Is Outperforming Traditional Markets
Bitmine Chairman Thomas “Tom” Lee also weighed in on recent market dynamics, noting that cryptocurrency markets have delivered stronger performance compared to traditional equities in recent weeks.
According to Lee, the shift began following geopolitical tensions tied to the Iran conflict, which he says has altered investor sentiment and pushed capital toward growth-oriented assets.
“Since the start of the Iran war, crypto prices have outperformed and Ethereum has outperformed the S&P 500 by 2,450bp,” Lee said.
He emphasized that the magnitude of the move is notable given the short timeframe.
“This is a meaningful outperformance in a mere two weeks,” he added.
Lee believes rising oil prices are also contributing to the trend by raising concerns about slower global economic growth. When investors worry about economic slowdown, they often rotate into assets perceived as high-growth opportunities.
“In our view, higher oil is triggering concerns of slowing growth for the global economy,” Lee explained.
“And when investors worry about growth, they buy ‘growth stocks’ including MAG7, software and crypto.”
According to Lee, the relationship between crypto and technology stocks is particularly strong. Market data increasingly shows digital assets moving in tandem with software companies and other innovation-driven sectors.
“As the chart below shows, crypto moves in tandem with software stocks,” Lee added.
Institutional Ethereum Accumulation Continues
Bitmine’s expanding Ethereum treasury reflects a growing trend among institutional investors accumulating large crypto positions as part of long-term strategies.
Holding nearly 4.6 million ETH gives the company significant exposure to the second-largest cryptocurrency and positions it as a major stakeholder in the Ethereum ecosystem.
With billions of dollars already staked and additional validator infrastructure planned, Bitmine appears to be moving beyond simple asset accumulation toward deeper network participation.
As Ethereum continues evolving and institutional adoption expands, firms like Bitmine could play an increasingly influential role in shaping the network’s infrastructure and economic landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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