Bitmine Immersion Technologies has increased its ether holdings to 4.8 million ETH, valued at around $10.2 billion, securing nearly 4% of the cryptocurrency’s circulating supply and edging closer to its 5% accumulation goal.
The firm revealed that its stock will begin trading on the NYSE starting April 9 after transitioning from NYSE American.
Currently, 3.33 million ETH—valued at approximately $7.1 billion—has been staked via Mavan, Bitmine’s newly launched validator platform. This generates about $196 million in annualized income at a 2.78% yield, differentiating Bitmine from bitcoin-focused treasury firms.
The company added 71,252 ETH in the past week alone, its most aggressive buying streak in months. Chairman Tom Lee framed the accumulation as a bullish signal that ether is nearing the end of its recent downturn.
Bitmine’s total assets now stand at $11.4 billion, including $864 million in cash, a small bitcoin position, and equity investments.
If fully staked, the firm expects its ETH holdings to generate up to $282 million annually. Lee also highlighted ether’s resilience amid geopolitical tensions, noting its strong performance relative to traditional assets.
