Bitmine Immersion Technologies (BMNR) has grown its ether (ETH) holdings to 4.8 million tokens, valued at approximately $10.2 billion, bringing the company close to its goal of controlling 5% of Ethereum’s total supply. The firm now holds 3.98% of the 120.7 million ETH currently in circulation.
The company also announced that its shares will begin trading on the New York Stock Exchange starting April 9, following an uplisting from NYSE American.
A key part of Bitmine’s strategy is staking. Of its total ETH reserves, 3.33 million—worth about $7.1 billion—are staked through its newly launched institutional validator network, Mavan. This generates an estimated $196 million in annualized revenue at a 2.78% yield.
Over the past week, Bitmine added 71,252 ETH, marking its most aggressive accumulation since late December. Chairman Tom Lee described the purchases as a strategic bet that ether is nearing the end of a “mini crypto winter.”
Including cash and other assets, Bitmine’s total holdings have reached $11.4 billion. The portfolio includes $864 million in cash, 198 BTC, and smaller equity positions
