Tom Lee’s BitMine Acquires 60,976 ETH As BMNR Stock Eyes Recovery

Bitmine Immersion Technologies disclosed on March 8, 2026, that its crypto, cash, and “moonshot” holdings reached $10.3 billion. The company said it holds over 4.5 million ETH, with just over 3 million of these coins staked as it looks to generate staking revenue.

Bitmine Accelerates Ethereum Purchases

In the press release, Bitmine reported acquiring 60,976 Ethereum over the past week. The company said this pace exceeded its recent weekly average of 45,000 to 50,000 ETH purchases. As a result, total Ethereum holdings are at 4,534,563 ETH valued at $1,965 per token. 

Tom Lee said the firm slightly increased accumulation during the latest market pullback. Cited in the release, Tom DeMark of DeMark Analytics noted that Ethereum prices remained resilient despite rising war concerns and higher oil prices. At the time of writing, the ETH price was at $2,002, up by 2.85% in the past 24 hours.

Source: TradingView

According to Lee, Bitmine now owns 3.76% of Ethereum’s circulating supply of roughly 120.7 million tokens. The firm described this position as more than 75% toward its internal “Alchemy of 5%” supply milestone.

Alongside Ethereum holdings, Bitmine disclosed 195 Bitcoin within its treasury. The firm also maintains a $14 million stake in Eightco Holdings and $1.2 billion in total cash reserves. Combined crypto, cash, and “moonshots” therefore reached $10.3 billion as of the March 8 update.

Staking Operations and Global Treasury Standing

Meanwhile, Bitmine continues expanding its Ethereum staking operations. As of March 8, the company reported 3,040,483 ETH staked across its infrastructure and partners. That amount represents about $6.0 billion based on the disclosed $1,965 price.

Lee said roughly 67% of Bitmine’s Ethereum holdings remain staked. Annualized staking revenue is about $174 million under present yield conditions. However, rewards could rise to $259 million annually once the full staking system reaches scale.

The estimate uses a seven-day BMNR yield of 2.91%, according to the company’s disclosure. Meanwhile, the Composite Ethereum Staking Rate administered by Quatrefoil is at 2.84%. 

Bitmine is the largest Ethereum treasury globally. The firm ranks second to Strategy, which acquired 17,994 BTC, as CoinGape reported today. Bitmine’s own staking operations generated a slightly higher 2.91% annualized seven-day yield.

To expand capacity, the company continues developing its Made in America Validator Network (MAVAN). Lee said Bitmine works with three staking providers as the system approaches deployment in early 2026. The project aims to deliver dedicated infrastructure for large-scale Ethereum validation.

BNMR Stock Activity 

Alongside treasury expansion, Bitmine reported strong stock trading activity in U.S. markets. The crypto stock recorded an average daily dollar volume of $1.0 billion as of March 6, 2026. 

At press time, BMNR stock traded at $19.05 in premarket activity. The price showed a 0.90% increase, or $0.17 higher today. However, the stock previously closed at $20.29 on Friday. 

Source: Yahoo Finance

The daily price range is between $18.84 and $19.57. Over the past year, the stock has had a range between $3.20 and $161.00. Meanwhile, the market cap is at approximately $8.59 billion.