Bitmine Immersion Technologies (BMNR) currently holds 4.87 million Ether worth $10.7 billion and is 81% towards its goal of owning 5% of the total. $ETH Chairman Tom Lee also called Ether a “wartime store of value,” according to Monday’s release.
BMNR stock is down 2.25% pre-market as Ethereum falls $2,199 over the weekend. The stock is down 32% since the beginning of the year.
Lee pointed. $ETHSince the Iran war began seven weeks ago, gold has gained 17.4%, outperforming the S&P 500 by 1,830 basis points and gold by 2,743 basis points.
“we believe $ETH Proven to outperform gold by 2,743 basis points $ETH It’s a store of wartime value,” Lee said.
The company purchased 71,524 units. $ETH Mr. Lee said that Bitmine’s “basic scenario is $ETH We are in the final stages of mini-cryptocurrency winter. ”
Staking has become an important source of revenue. Bitmine is 3,334,637 $ETH It accounts for 68% of its holdings, valued at $7.4 billion, and generates $212 million in annual staking revenue with a 7-day yield of 2.89%.
Its total holdings, including cash and what the company calls “moonshots,” total $11.8 billion. This includes $719 million in cash, $200 million in Beast Industries stock, and an $85 million position in Aitco Holdings, which Bitmine says is “one of the only publicly traded stocks in the world that can offer investors direct exposure to OpenAI.”
The company was listed on the New York Stock Exchange from NYSE American on April 9, trading under BMNR, with average daily trading volume of $747 million, ranking 117th among all publicly traded U.S. stocks. The institutional investor base includes Cathie Wood of ARK, Founders Fund, Pantera, Kraken, Galaxy Digital, and Lee personally.
Lee cited “Wall Street tokenization on the blockchain” and “agent AI systems that increasingly require public, neutral blockchains” as dual tailwinds for Ethereum, positioning the asset as one that considers both institutional adoption and AI infrastructure rather than a pure DeFi token.
Bitmine ranks as the world’s largest corporate ether vault, and overall as the second-largest cryptocurrency vault after Strategy’s 766,970 BTC.
