Bitmine Immersion Technologies increased its Ethereum treasury to 4.87 million tokens as of April 12, giving the firm control of 4.04% of the total ether supply, the company said Monday.
At $2,206 per ETH, the company’s ether holdings are valued at approximately $10.7 billion, ranking it as the largest corporate Ethereum treasury globally and the second-largest corporate crypto treasury overall behind Strategy’s 766,970 BTC position valued at $54.5 billion, according to a statement.
The latest figure places the company about 80% of the way to its stated goal of acquiring 5% of the total ether supply after nine months of accumulation. Over the past week, Bitmine acquired 71,524 ETH, the highest weekly pace of buys since the week of Dec. 22, 2025, Chairman Tom Lee said in the statement.
“The Iran war enters its seventh week and this war remains the most important driver of global markets,” Lee said. “ETH is now the best performing asset since the start of the war, with a 17.4% gain and outperforming the S&P 500 by 1,830 basis points.”
Lee said Ethereum benefits from Wall Street tokenization on the blockchain and from agentic AI systems requiring public and neutral blockchains.
Ether traded above $2,100 on Monday, according to The Block’s ETH price page.
Total balance sheet and staking scale
Beyond its ether holdings, Bitmine reported $719 million in total cash, 198 bitcoin, a $200 million stake in Beast Industries, and an $85 million stake in Eightco Holdings, which trades on Nasdaq under the symbol ORBS.
According to Lee, 3,334,637 ETH, or approximately 68% of Bitmine’s total holdings, is currently staked, generating $212 million in annualized revenue based on a 2.89% 7-day yield from its staking operations. The Composite Ethereum Staking Rate, administered by Quatrefoil, stood at 2.73% during the same period, he said.
The update follows Bitmine’s uplisting from the NYSE American to the New York Stock Exchange and the official launch of the Made in America Validator Network, an institutional-grade staking platform.
Lee said Bitmine projects that total annual staking rewards will reach $310 million once its entire ETH treasury is fully staked, using the 2.89% 7-day yield.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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