TL;DR:
The world’s largest Ethereum holding is growing at an unprecedented pace. Bitmine Immersion Technologies currently holds 4,803,334 ETH valued at $2,159 per unit, which amounts to over $10 billion and positions the company as the owner of 3.98% of the network’s total supply. The firm, trading under the ticker BMNR, was approved for uplisting on the New York Stock Exchange and will begin trading on April 9, 2026.
The company continues to strengthen its institutional profile. In the past week, Bitmine acquired 71,252 ETH, its fastest pace of purchases since December 2025. Its total holdings across crypto, cash, and secondary positions — referred to as “moonshots” — amount to $11.4 billion, including $864 million in cash, 198 BTC, and stakes in Beast Industries and Eightco Holdings.
Bitmine’s strategy is built around MAVAN, a network of institutional validators recently launched by the company. Of the 4.8 million ETH in its portfolio, 3,334,637 are already staked, generating annualized income of approximately $196 million at a rate of 2.78%. Thomas Lee, chairman of the company, noted that once the staking process is fully deployed, earnings would reach $282 million.
Meanwhile, onchain activity during the week was particularly notable. A wallet with no prior history received 40,000 ETH in a series of transfers from FalconX, two of 20,000 ETH each. Some market analysts link the transactions to Bitmine, though no official confirmation has been issued. The fact that the funds were sent to a new wallet rather than an exchange suggests a likely intention of long-term custody.
A newly created wallet received 40,000 $ETH ($82.12M) from #FalconX, and it likely belongs to #Bitmine.
Address: 0x9783b6Ec1350a77D8D758A724B1052a027Cb67a7 pic.twitter.com/nW6TjDBmvn
— Onchain Lens (@OnchainLens) April 4, 2026
Ethereum’s derivatives market recorded a shift in bias: net buying pressure exceeded $104 million, reversing a bearish trend that had persisted since 2023. ETH is currently trading at around $2,159 per unit, according to the latest data from Coinmarketcap.
Lee highlighted Ethereum’s relative performance against the current geopolitical backdrop: since the start of the conflict with Iran, ETH has gained 6.8%, outperforming the S&P 500 by 1,130 basis points and gold by 1,840.
