Tom Lee’s Bitmine Immersion Technologies disclosed that it holds 3,040,483 staked Ethereum worth $6.0 billion at $1,976 per token. The company said it now owns 3.71% of Ethereum’s 120.7 million supply while advancing its MAVAN staking network toward a Q1 2026 launch. Bitmine also confirmed total crypto, cash, and “moonshot” holdings of $9.9 billion, including a recently closed $200 million investment in Beast Industries.
Bitmine Expands Ethereum Holdings and Staking
In a press release, Bitmine acquired 50,928 ETH in the past week, citing the recent pullback as attractive. The company said Ethereum’s price does not reflect its utility or long-term financial role. As a result, total holdings reached 4,473,587 ETH valued at $1,976 per token.
In addition, Bitmine reported 195 Bitcoin and $868 million in total cash. The firm also holds a $14 million stake in Eightco Holdings and the $200 million Beast Industries investment. Consequently, combined crypto, cash, and “moonshots” now total $9.9 billion.
Tom Lee stated that 3.0 million ETH, or about 68% of holdings, remain staked. Annualized staking revenue stands at $172 million based on current yields. At full scale through MAVAN and partners, staking rewards could reach $253 million annually using a 2.86% seven-day yield.
Lee added that Bitmine works with three staking providers as it prepares MAVAN for deployment in early 2026. The Composite Ethereum Staking Rate stands at 2.83%, according to company figures. Meanwhile, Bitmine’s own operations generated a 2.86% annualized seven-day yield.
Treasury Scale, Market Position, and Peer Comparison
Bitmine’s Ethereum treasury ranks first globally among ETH-focused entities. The company is also second to Michael Saylor’s Strategy among global crypto treasuries. As Coingape reported, Strategy added 3,015 BTC. As of the same March 1 disclosure, Bitmine’s Ethereum holdings represent 3.71% of the total supply.
The firm described this as over 74% toward its stated “Alchemy of 5%” target. Lee said the company continues to acquire ETH while optimizing staking yield. However, market volatility has weighed on paper valuations. According to Maartunn on X, Bitmine currently holds $7.34 billion in unrealized losses. He described the figure as a major drawdown tied to price momentum shifts.
Despite market tensions, Tom Lee called March a turnaround month and dismissed growth scare concerns. He said in a CNBC interview that geopolitical uncertainty may impact financial and digital asset markets in coming weeks. Broader market tensions are elevated amid U.S. combat operations against Iran.
According to analyst Ted Pillows, Ethereum faced rejection at the $2,000 level again. He said continued escalation in the U.S.-Iran situation pressures risk-on assets. If Ethereum fails to reclaim $2,000 soon, he projected a move toward the $1,850 zone.