Bitcoin miner turned Ethereum treasury firm stakes over $6B in ETH as BMNR shares slide and ether dips.

CoinDesk

by Olivier Acuna

March 2, 2026

AI-Generated Deep Dive Summary

Bitmine Immersion Technologies (BMNR), led by Chairman Tom Lee, has significantly increased its Ethereum holdings during a market downturn, purchasing nearly 51,000 additional ETH tokens last week. This move brings their total holdings to over 4.47 million ETH tokens, worth approximately $6 billion at current prices. The company is actively staking 3.04 million ETH, generating annualized rewards of $172 million. Lee emphasized that Bitmine’s strategy involves accumulating ETH during market pullbacks and optimizing its yield through staking, with a target of achieving $253 million in annual staking rewards at full scale. Bitmine’s diversified portfolio includes 4.47 million ETH, 195 Bitcoin, $868 million in cash, a $200 million stake in Beast Industries, and an $14 million investment in Eightco Holdings. The company now holds 3.71% of Ethereum’s total token supply, positioning itself as a significant player in the Ethereum ecosystem. Lee highlighted the development of Bitmine’s Made in America Validator Network (MAVAN), a staking platform set for launch in early 2026. This initiative aims to expand Bitmine’s influence in the staking market, with partnerships already secured with three staking providers. The company’s approach to staking and treasury management underscores its commitment to navigating the “mini crypto winter” strategically. By focusing on ETH accumulation and yield optimization, Bitmine is not only securing its position in the Ethereum ecosystem but also diversifying its assets to minimize risk. This strategy could serve as a model for other companies looking to thrive during market downturns. For readers interested in crypto, Bitmine’s actions highlight the potential of staking as a revenue-generating tool and the importance of strategic asset management during challenging market conditions. The company’s ability to grow its ETH holdings despite the bear market signals resilience and a proactive approach to maximizing returns. Additionally, the development of MAVAN positions Bitmine as a key player in the staking ecosystem, offering opportunities for

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Originally published on CoinDesk on 3/2/2026