NEW YORK, March 16, 2026, 11:38 EDT
Bitmine Immersion Technologies shares climbed 11.6% late Monday morning, after an 8-K filing showed its crypto, cash, and investment holdings totaled $11.5 billion. The stock recently changed hands at $22.93, not far from the session peak of $23.21.
This shift is significant: Bitmine now stands out as one of the most direct listed plays on ether, the Ethereum blockchain’s native currency. Ether itself rallied roughly 9.3% to $2,288.91, a level not seen in five weeks. SharpLink picked up 8.2%, with BTCS following—shares up 6.3%.
Bitmine reported holding 4,595,562 ETH, 196 bitcoin, $1.2 billion in cash, a $200 million position in Beast Industries, and $83 million invested in Eightco as of 7 p.m. ET on March 15. That stash of ether amounts to 3.81% of the total supply, according to the company.
Chairman Tom Lee described crypto’s latest rally as “meaningful outperformance.” Bitmine scooped up 60,999 ETH in the last week—quicker than its usual weekly haul, he noted. Lee said management sees ether nearing the end of a “mini-crypto winter.” PR Newswire
Bitmine reported it has 3,040,515 ether staked—funds committed to validate transactions and collect rewards. According to Lee, annualized staking revenue stands at $180 million. If the rest of Bitmine’s holdings are put to work via its MAVAN validator network, rewards could climb to $272 million.
Bitmine disclosed it injected $80 million into Eightco following Eightco’s $50 million purchase of OpenAI shares and a $25 million investment in Beast Industries. The company also acquired 5,000 ETH from the Ethereum Foundation. According to Lee, this move let the foundation support its operations without needing to unload assets on the open market.
Bitmine, a bitcoin miner based in the U.S. that’s been channeling surplus funds into ether, says it still holds the largest ether treasury and ranks second among all crypto treasuries, just after Strategy. On March 9, Strategy reported holding 738,731 bitcoin. SharpLink, on that same date, disclosed it had built up 868,699 ETH.
Still, the setup remains shaky. In its Sunday evening filing, Bitmine pegged ether at $2,185, but flagged that upcoming results hinge on financing, rivals and whatever happens with bitcoin and ether prices—meaning the balance sheet could take a hit if tokens lurch again.
