Bitmine Immersion Technologies, Ethereum's largest digital asset treasury, announced total crypto holdings, cash, and marketable securities valued at $16.2 billion. The company now holds 6.03 million ETH, representing 4.9% of Ethereum's total circulating supply and bringing it close to its stated target of 5%.
The accumulation follows Bitmine's acquisition of 12,532 ETH over the past week. At the time of the announcement, ETH was trading at $2,500.71, giving Bitmine's holdings an approximate value of $15.34 billion.
Staking and Revenue Strategy
Beyond accumulation, Bitmine is actively staking Ethereum through its validator network MAVAN and staking partners. The company has staked approximately 5.07 million ETH, worth $12.9 billion, at a reported annualized yield of 2.61%. At full staking capacity, Bitmine estimates this could generate approximately $400 million annually, though staking returns can fluctuate and staked ETH faces liquidity constraints.
Bitmine has also issued preferred stock, BMNP, offering a stated 9.5% annual dividend rate as an additional funding mechanism.
Market Position and On-Chain Activity
Ethereum's on-chain metrics show resilience despite price volatility. Daily active addresses have maintained a baseline of roughly 330,000 to 500,000, while the number of smart contracts increased from approximately 60 million in January 2026 to over 72 million by October 2026.
At press time, ETH had fallen 1.5% in 24 hours, while Bitmine's preferred stock traded at $23.83, down 0.83%.
