TechFlow News, February 23: Bitmine Immersion Technologies announced on February 23 that, as of February 22, it holds 4,422,659 ETH—valued at approximately $8.66 billion at $1,958 per ETH—representing 3.66% of the total ETH supply (120.7 million ETH), making it the world’s largest corporate ETH reserve holder. Including ETH, 193 BTC, $200 million in equity stakes in Beast Industries, $17 million in equity stakes in Eightco Holdings, and $691 million in cash, the company’s total holdings amount to $9.6 billion.
Regarding staking, Bitmine currently stakes 3,040,483 ETH (approximately 69% of its total ETH holdings), generating an estimated annualized staking revenue of $171 million. Its 7-day annualized staking yield stands at 2.89%, exceeding the industry-wide Composite Ethereum Staking Rate (CESR) of 2.81%. Bitmine’s proprietary staking infrastructure, MAVAN (Made-in-America Validator Network), is expected to launch in Q1 2026; upon full deployment, annualized staking revenue is projected to reach approximately $249 million.
Over the past week, Bitmine acquired an additional 51,162 ETH. Chairman Tom Lee stated that the market is currently experiencing a “mini crypto winter,” during which Bitmine continues executing its ETH reserve strategy, asserting that ETH’s current price fails to fully reflect its intrinsic value as future financial infrastructure. Bitmine’s institutional investors include ARK, Pantera, Founders Fund, Galaxy Digital, and DCG.
