BitMine Unveils Multi-Billion Dollar Ethereum Strategy with Staking Ambitions

BitMine Immersion Technologies ($BMNR) has shifted its focus from traditional mining to an Ethereum (ETH)-dominated treasury and staking strategy. The company's shares closed at $15.79 on Friday, down 4.82% from the previous session's $16.59.

As of July 2026, BitMine held around 5,704,040 ETH, valued at approximately $9.96 billion, with a total crypto portfolio near $9.98 billion. The company's tracker lists an even higher figure, around 5,742,237 ETH, suggesting it is among the largest concentrated holders in the market.

BitMine appears to be putting a majority of its ETH to work through staking, with approximately 4,879,157 ETH currently locked. Staking involves locking ETH to support network validation and earn rewards, but also introduces operational complexity and risks, including validator performance, custody, and liquidity constraints.

To industrialize this effort, BitMine is building an Ethereum staking infrastructure under the banner MAVAN, short for 'Made-in-America Validator Network.' The company plans to control up to 5% of the Ethereum network with MAVAN. BitMine has been running staking tests through three pilot partners and aims to expand MAVAN by the first quarter of 2026.