Las Vegas-based Bitmine Immersion Technologies said it now holds 4,473,587 ether, representing 3.71% of the circulating supply, positioning itself as the world’s largest ethereum treasury company.
The NYSE American-listed firm, trading under BMNR, valued its ETH at $1,976 per token as of March 1, alongside 195 bitcoin, $868 million in cash and equity stakes including $200 million in Beast Industries and $14 million in Eightco Holdings, bringing total crypto, cash and strategic investments to $9.9 billion.
“Bitmine continues to methodically execute our ethereum treasury strategy as we move our way through the later stages of this ‘mini crypto winter,'”
Said Bitmine chairman, Tom Lee.
Lee said the company acquired 50,928 ETH over the past week and cited geopolitical tensions, including US combat operations against Iran, as contributing to broader market volatility while presenting accumulation opportunities.
Of its total holdings, 3,040,483 ETH, worth around $6.0 billion, are staked, generating annualised staking revenue of $172 million based on a seven-day yield of 2.86%, compared with a 2.83% Composite Ethereum Staking Rate.