Bitmine Expands Ethereum Treasury to 4.37 Million ETH

Bitmine Immersion Technologies (BMNR) has significantly expanded its Ethereum treasury, confirming total holdings of 4,371,497 ETH, representing approximately 3.62% of global ETH supply.

The update underscores an aggressive accumulation strategy that has continued despite broader market volatility.

The company added roughly 45,759 ETH over the past week, extending a steady buildout of its Ethereum position.

$8.7 Billion in ETH and Growing Staking Yield

At an assumed price of $1,998 per ETH, Bitmine’s Ethereum holdings are valued at approximately $8.7 billion. Combined with cash and strategic investments, the firm reports total assets of $9.6 billion, including:

• $670 million in cash
• 193 Bitcoin
• $200 million stake in Beast Industries
• $17 million stake in Eightco Holdings

Of the total Ethereum held, 3,040,483 ETH, around 69% of the treasury, is actively staked, equivalent to roughly $6.1 billion deployed in yield-generating infrastructure.

Current annualized staking revenue is running at approximately $176 million, based on prevailing yield levels.

MAVAN Rollout and $252M Revenue Projection

Bitmine expects staking income to scale further once its Made-in-America Validator Network (MAVAN) is fully deployed. Under that model, management projects annual staking rewards could reach $252 million if the entire ETH treasury is brought online.

The expansion signals a shift from passive treasury accumulation toward vertically integrated validator infrastructure. By controlling validator operations internally, Bitmine aims to capture full staking economics rather than outsourcing to third-party providers.

Continued Accumulation Despite Market Pressure

The update follows last week’s disclosure that Bitmine’s ETH holdings had surpassed 4.33 million tokens, indicating continued accumulation during a period of broader crypto market weakness.

Rather than trimming exposure amid volatility, the company appears to be doubling down on Ethereum as a core balance sheet asset. With over 3.6% of global supply under custody, Bitmine now stands among the largest corporate ETH holders globally.

If fully staked under MAVAN, the treasury would transform from a passive reserve into a high-yield digital asset engine generating hundreds of millions in recurring annual revenue.

The post Bitmine Expands Ethereum Treasury to 4.37 Million ETH appeared first on ETHNews.