Building on recent accumulation, Bitmine Immersion Technologies added 60,976 ether last week—its largest 2026 weekly purchase—pushing holdings past 4.5 million tokens despite $7.8 billion unrealized losses. Chairman Thomas Lee views prices as nearing the end of a 'mini-crypto winter,' justifying faster buying. Staking now yields $174 million annually.
Bitmine Immersion Technologies (BMNR), a major cryptocurrency accumulator, announced on March 9, 2026, a purchase of 60,976 ETH through the prior week, valued at ~$120 million. This boosted total holdings to 4,534,563 ETH (worth over $9 billion, or 3.76% of supply) from the prior ~4.33 million reported last month.
The buy exceeds Bitmine's recent pace of 45,000-50,000 ETH weekly, following 51,000 and 40,000 ETH additions in prior weeks. Chairman Thomas Lee stated: "We continue to believe that crypto prices are in the late/final stages of the 'mini-crypto winter.' ... Therefore Bitmine’s strategy is to slightly increase its pace of ETH accumulation."
Of holdings, 3,040,483 ETH (67%) is staked, generating $174 million annual revenue—potentially rising to $259 million. Total assets (crypto, cash, moonshots) reach $10.3 billion, including $1.2 billion cash/other crypto. Backed by ARK, Founders Fund, and Pantera, Bitmine targets 5% of ETH supply and recently invested $200 million in Beast Industries.
BMNR stock ranks 125th in U.S. trading volume, averaging $1 billion daily over five days. The firm trails only a few in global ETH treasuries amid persistent unrealized losses (~$7.8 billion, average cost ~$3,800+ per token).
