Bitmine (BMNR) Expands Ethereum Position to $10.7B, Stock Slides Despite Growth

Key Highlights

• Bitmine (BMNR) disclosed cryptocurrency and cash reserves totaling $10.7 billion as of March 29, 2026.
• The firm owns 4,732,082 ETH tokens — approximately 3.92% of Ethereum’s entire circulating supply.
• Of this total, 3.14 million ETH are actively staked, producing $177 million in annualized revenue at a 2.80% yield rate.
• The company unveiled MAVAN, a new institutional staking service, on March 25, 2026.
• BMNR shares dropped 5.86% during intraday trading, even as ETH prices climbed 4.21% during the same timeframe.

Bitmine Immersion Technologies (BMNR) has revealed its cryptocurrency and cash reserves now total $10.7 billion as of Saturday, March 29, 2026. The disclosure provided a detailed breakdown of the firm’s expanding Ethereum holdings.

Bitmine Immersion Technologies, Inc., BMNR

The company currently holds 4,732,082 ETH tokens at a valuation of $2,005 per token. This substantial position accounts for 3.92% of Ethereum’s total circulating supply of 120.7 million tokens — a concentration level rarely seen among publicly traded entities.

Bitmine’s portfolio extends beyond Ethereum, including 197 Bitcoin, a $200 million equity position in Beast Industries, $102 million in Eightco Holdings (ORBS) stock, and $961 million in liquid cash reserves.

The company purchased 71,179 Ethereum tokens over the previous seven-day period. This acquisition rate significantly exceeds the firm’s typical weekly accumulation of 45,000 to 50,000 ETH, as noted by Chairman Thomas Lee.

From its entire ETH portfolio, 3,142,643 tokens — representing roughly 66% — are currently deployed in staking protocols. At prevailing market rates, this staked allocation carries a value near $6.3 billion.

Revenue from Staking and Platform Debut

The company’s staking operations are producing revenue at an annualized run-rate of $177 million. The seven-day yield registered at 2.80%, marginally exceeding the Composite Ethereum Staking Rate benchmark of 2.79%.

On March 25, Bitmine introduced MAVAN — Made in American VAlidator Network. This institutional-grade staking infrastructure was initially developed to manage Bitmine’s internal ETH treasury. The platform will eventually extend services to external institutional clients and custodial partners.

As of March 27, Bitmine’s shares recorded an average daily trading volume of $920 million over a five-day span. This trading activity positioned the stock as the 100th most actively traded security in the United States among 5,704 publicly listed companies.

Share Price Declines While ETH Gains

Notwithstanding its substantial asset base, BMNR declined 5.86% to $331.00 during intraday trading on March 30. Ethereum prices moved inversely, advancing 4.21% to $2,070 across the same 24-hour window.

The stock currently trades well beneath its 52-week peak of $161 on an adjusted basis. Over the trailing twelve months, shares have generated a 130% return, although recent trading sessions have exhibited heightened volatility.

InvestingPro’s valuation analysis indicates BMNR is presently trading above its Fair Value assessment, suggesting the stock may be overvalued.

Shares closed at $18.39 before the latest intraday movement, and the company’s market presence continues drawing significant interest given its liquidity profile and substantial cryptocurrency exposure.

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