BitMine’s 4.37M ETH Holdings and $200M Beast Investment Weigh on iShares ETF
iShares Blockchain and Tech ETF has heavy exposure to BitMine Immersion Technologies, which reported holding 4.37 million ETH valued at $1,998 per ETH, representing 3.62% of ETH supply. BitMine’s shares slid over 4% after unveiling a $200 million Beast Industries investment and Q1 2026 MAVAN staking launch, pressuring the ETF.
1. BitMine ETH Holdings Overview
BitMine Immersion Technologies holds 4,371,497 ETH valued at $1,998 per coin, representing 3.62% of ETH supply. Annualized staking revenues reached $176 million, with 3 million ETH staked, or 69% of total holdings.
2. Investment and Staking Developments
The company deployed $200 million into Beast Industries, raising total assets to $9.6 billion across cash and crypto. The MAVAN staking solution remains on track for a Q1 2026 launch, aiming to expand staking operations and boost future revenue.
3. Implications for iShares Blockchain and Tech ETF
iShares Blockchain and Tech ETF carries a 6.42% weight in BitMine, making it sensitive to BitMine’s share movements. On Tuesday, BitMine shares declined 4.44% amid a broader market downturn, contributing to downward pressure on the ETF.