Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 4.474 Million Tokens, and Total Crypto and Total Cash Holdings of $9.9 Billion

Rhea-AI Summary

Bitmine (NYSE AMERICAN: BMNR) reported crypto + cash + "moonshots" holdings of $9.9 billion as of March 1, 2026. Holdings include 4,473,587 ETH (3.71% of supply) and $868 million cash; 3,040,483 ETH are staked ($6.0 billion at $1,976/ETH).

The company acquired 50,928 ETH in the prior week, cites annualized staking revenues of $172 million, and expects to launch its MAVAN staking solution in early 2026.

Positive

• $9.9B total crypto + cash + moonshots holdings
• 4.47M ETH held, representing 3.71% of supply
• 3.04M staked ETH valued at $6.0B
• Annualized staking revenues of $172M
• MAVAN staking solution on track for early 2026 deployment

Negative

• High concentration in ETH: 4.47M ETH exposure
• Crypto NAV sensitive to ETH price volatility and market shocks
• Geopolitical uncertainty noted as potential near-term market risk

Key Figures

ETH holdings: 4,473,587 ETH Staked ETH: 3,040,483 ETH Total holdings: $9.9 billion +5 more

8 metrics

ETH holdings 4,473,587 ETH Company crypto holdings as of Mar 1, 2026

Staked ETH 3,040,483 ETH Staked balance, valued at $1,976 per ETH

Total holdings $9.9 billion Crypto + cash + “moonshots” as of Mar 1, 2026

Total cash $868 million Cash holdings included in $9.9B total

ETH supply share 3.71% Portion of 120.7M ETH token supply

Staking rewards at scale $253 million Annual ETH staking rewards using 2.86% 7-day BMNR yield

Annualized staking revenues $172 million Current annualized ETH staking revenues

Stock trading volume $0.8 billion per day 5-day average daily dollar volume, rank #145 US

Market Reality Check

Price: $18.98 Vol: Volume 32,827,235 vs 20-d...

normal vol

$18.98 Last Close

Volume Volume 32,827,235 vs 20-day average 44,408,057 shows trading below recent norms. normal

Technical Shares at $18.98, trading below 200-day MA of $35.34 after a -7.14% 24h move.

Peers on Argus

BMNR fell 7.14% with peers like MARA (-7.64%) and IREN (-3.66%) also down, sugge...

BMNR fell 7.14% with peers like MARA (-7.64%) and IREN (-3.66%) also down, suggesting broader pressure across capital markets/crypto-exposed names.

Previous Crypto Reports

5 past events · Latest: Feb 02 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 02	Crypto holdings update	Positive	-9.2%	Reported $10.7B crypto, cash and moonshots with 4.29M ETH and higher staking.
Jan 26	Crypto holdings update	Positive	-3.5%	Disclosed $12.8B holdings, 4.24M ETH, $682M cash and strong trading liquidity.
Jan 20	Crypto holdings update	Positive	-9.4%	Announced $14.5B holdings, 4.20M ETH, $979M cash and staked ETH growth.
Jan 15	Strategic investment	Positive	-5.5%	Revealed $200M equity investment into Beast Industries and highlighted backers.
Jan 12	Crypto holdings update	Positive	+3.6%	Shared $14.0B holdings, 4.17M ETH and higher staked ETH plus strong liquidity.

Pattern Detected

Crypto/treasury updates have usually been followed by negative next-day moves, with only one positive reaction in the last five similar announcements.

Recent Company History

Over recent months, Bitmine has repeatedly updated investors on its Ethereum-focused treasury, highlighting large ETH accumulation, growing staked balances, and rising annualized staking revenues. Events from Jan 12–Feb 2, 2026 show increases in ETH holdings, cash, and “moonshot” stakes, plus the announced $200 million Beast Industries investment. Despite generally constructive fundamentals, these crypto-tagged updates have often seen negative 24h price reactions, framing today’s news in a pattern of cautious market responses.

Historical Comparison

-4.8% avg move · Past crypto updates moved BMNR by an average of -4.78% over 24h. Today’s -7.14% reaction to another ...

crypto

-4.8%

Average Historical Move crypto

Past crypto updates moved BMNR by an average of -4.78% over 24h. Today’s -7.14% reaction to another ETH and treasury-growth update is somewhat larger but directionally consistent.

Across these crypto-tagged events, Bitmine has steadily increased ETH holdings, staked balances and annualized staking revenues while layering in a $200 million Beast Industries stake, reinforcing its Ethereum-centric treasury strategy.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-07-28

The company has an effective S-3ASR shelf registration dated 2025-07-28, with at least two prospectus supplements filed (424B5 on 2025-08-12 and 2025-09-22), indicating the shelf has been used. Specific remaining capacity or amounts are not provided here.

Market Pulse Summary

This announcement highlights Bitmine’s expanding Ethereum-centric treasury, with 4.47 million ETH, s...

Analysis

This announcement highlights Bitmine’s expanding Ethereum-centric treasury, with 4.47 million ETH, substantial staked balances and annualized staking revenues of $172 million. The company reports total crypto, cash and “moonshot” holdings of $9.9 billion and emphasizes progress toward its MAVAN staking platform. Investors may focus on ETH price sensitivity, execution on staking infrastructure, and future disclosures on treasury allocation and regulatory developments when evaluating this strategy.

Key Terms

staked eth, staking rewards, composite ethereum staking rate, validator network

4 terms

staked eth technical

"Bitmine has 3,040,483 staked ETH, representing $6.0 billion at $1,976 per ETH"

Staked ETH is Ether that has been locked up to help secure and run a blockchain network that uses a staking system, earning rewards in return much like interest on a savings account. It matters to investors because staking can provide a steady yield on holdings but often reduces liquidity and carries protocol, operational, and market risks—think of it as joining a club that pays you for participation but may limit how quickly you can withdraw your money.

staking rewards technical

"the ETH staking rewards is $253 million annually (using 2.86% 7-day BMNR yield)"

Staking rewards are incentives given to individuals who commit their cryptocurrency holdings to support a blockchain network's operations, such as confirming transactions and maintaining security. Think of it like earning interest or dividends for locking up your savings or investments, encouraging people to keep their assets engaged in keeping the system running smoothly. For investors, staking rewards provide a way to earn passive income while helping to secure the network.

composite ethereum staking rate technical

"The CESR (Composite Ethereum Staking Rate, administered by Quatrefoil) is 2.83%"

A composite ethereum staking rate is the single, annualized percentage that represents the typical return investors earn by locking up Ether across a mix of validators, staking pools and service providers, after accounting for fees and penalties. It matters because it shows the expected income from staking (like an average bank interest rate), helps compare staking vs. selling or lending choices, and influences supply dynamics and investor returns in the Ethereum ecosystem.

validator network technical

"The Made in America VAlidator Network (MAVAN). This will be the 'best-in-class' solution"

A validator network is a group of independent computers or participants that check and record transactions on a digital ledger, using agreed rules to decide which entries are valid. Think of them as a team of referees who confirm plays and keep the official score; their integrity, speed and decentralization determine how secure, fast and reliable the system is. Investors care because the makeup and incentives of the validator network affect transaction finality, security risks, token rewards and governance influence.

AI-generated analysis. Not financial advice.

Bitmine has 3,040,483 staked ETH, representing $6.0 billion at $1,976 per ETH; MAVAN staking solution on track to launch Q1 2026

Bitmine now owns 3.71% of the ETH token supply, over 74% of the way to the 'Alchemy of 5%' in just 8 months

Bitmine recently closed on initial $200 million investment into Beast Industries

Bitmine Crypto + Total Cash Holdings + "Moonshots" total $9.9 billion, including 4.474 million ETH tokens, total cash of $868 million, and other crypto holdings

Bitmine leads crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of BMNR stock

Bitmine is the 145th most traded stock in the US, trading $0.8 billion per day (5-day avg)

Bitmine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support Bitmine's goal of acquiring 5% of ETH

LAS VEGAS, March 2, 2026 /PRNewswire/ -- (NYSE AMERICAN: BMNR) Bitmine Immersion Technologies, Inc. ("Bitmine" or the "Company") a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash + "moonshots" holdings totaling $9.9 billion.

As of March 1, 2026 at 2:00pm ET, the Company's crypto holdings are comprised of 4,473,587 ETH at $1,976 per ETH (NASDAQ: COIN), 195 Bitcoin (BTC), $200 million stake in Beast Industries, $14 million stake in Eightco Holdings (NASDAQ: ORBS) ("moonshots") and total cash of $868 million. Bitmine's ETH holdings are 3.71% of the ETH supply (of 120.7 million ETH).

"Bitmine continues to methodically execute our Ethereum treasury strategy as we move our way through the later stages of this 'mini crypto winter.' Geopolitical uncertainty has risen in the past few days, as the US has commenced combat operations against Iran, and the impact on financial and digital asset markets will be felt in the coming weeks. We continue to steadily acquire ETH and optimize the yield on our ETH holdings," said Thomas "Tom" Lee, Chairman of Bitmine.

"In the past week, we acquired 50,928 ETH," continued Lee. "Bitmine has been buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance."

As of March 1, 2026, Bitmine total staked ETH stands at 3,040,483 ($6.0 billion at $1,976 per ETH). "Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the ETH staking rewards is $253 million annually (using 2.86% 7-day BMNR yield)," stated Lee.

"Annualized staking revenues are now $172 million. And this 3.0 million ETH is about 68% of the 4.5 million ETH held by Bitmine. The CESR (Composite Ethereum Staking Rate, administered by Quatrefoil) is 2.83%, while Bitmine's own staking operations generated a 7-day yield of 2.86% (annualized). We continue to make progress on our staking solution known as The Made in America VAlidator Network (MAVAN). This will be the 'best-in-class' solution offering secure staking infrastructure and will be deployed in early calendar 2026. Bitmine is currently working with 3 staking providers as the Company moves towards unveiling MAVAN in 2026," continued Lee.

Bitmine crypto holding reigns as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc. (NASDAQ: MSTR), which owns 717,722 BTC valued at $47 billion. Bitmine remains the largest ETH treasury in the world. 

Bitmine is one of the most widely traded stocks in the US. According to data from Fundstrat, the stock has traded average daily dollar volume of $0.8 billion (5-day average, as of February 27, 2026), ranking #145 in the US, behind Datadog (rank #144) and ahead of Expedia Group (rank #146) among 5,704 US-listed stocks (statista.com and Fundstrat research).

The GENIUS Act and Securities and Exchange Commission's ("the SEC") Project Crypto are as transformational to financial services in 2025 as US action on August 15, 1971 ending Bretton Woods and the USD on the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.

The Chairman's message can be found here:
https://www.Bitminetech.io/chairmans-message

The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/

To stay informed, please sign up at: https://Bitminetech.io/contact-us/

About Bitmine
Bitmine (NYSE AMERICAN: BMNR) is a Bitcoin miner with operations in the US. The company is deploying its excess capital to be the leading Ethereum Treasury company in the world, implementing an innovative digital asset strategy for institutional investors and public market participants. Guided by its philosophy of "the alchemy of 5%," the Company is committed to ETH as its primary treasury reserve asset, leveraging native protocol-level activities including staking and decentralized finance mechanisms. The Company will launch MAVAN (Made-in America VAlidator Network), a dedicated staking infrastructure for Bitmine assets, in Q1 of 2026.

For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
https://x.com/bmnrintern

Forward Looking Statements
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding progress and achievement of the Company's goals regarding ETH acquisition and staking, the long-term value of Ethereum, continued growth and advancement of the Company's Ethereum treasury strategy and the applicable benefits to the Company. In evaluating these forward-looking statements, you should consider various factors, including Bitmine's ability to keep pace with new technology and changing market needs; Bitmine's ability to finance its current business, Ethereum treasury operations and proposed future business; the competitive environment of Bitmine's business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond Bitmine's control, including those set forth in the Risk Factors section of Bitmine's Form 10-K filed with the SEC on November 21, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of Bitmine's filings with the SEC are available on the SEC's website at www.sec.gov. Bitmine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE Bitmine Immersion Technologies, Inc.