BitMine Immersion Technologies used its annual shareholder meeting to signal a strategic pivot from a pure Ethereum staking proxy toward a diversified digital-economy platform.
BitMine reported a sizeable Ethereum position — holdings exceeding 4.1 million ETH, valued at north of $13B — and a broader crypto-plus-cash asset base cited near $14B. Management framed staking as the company’s reliable cash engine, with projected annual staking income in the range of $400M–$430M.
To increase operational control over that yield, the firm announced the Made-in-America Validator Network (MAVAN), slated for launch in Q1 2026. Management projected MAVAN could materially boost rewards, citing an aspirational figure of up to $1M in daily rewards under ideal conditions; that launch remains a future operational milestone for investors to monitor.
Chairman Tom Lee outlined an expanded ETH treasury, a high-profile creator investment and infrastructure plans that aim to turn the company’s staking cash flow into broader distribution and product channels.
Creator-led distribution and strategic diversification
The meeting emphasized a new distribution thesis: leveraging large creator audiences to onboard retail users into Ethereum-native products. The centerpiece is a $200M equity investment in Beast Industries, the media group led by YouTube creator MrBeast. Tom Lee framed the move not as branding but as a channel strategy to expose Gen Z and millennial audiences to tokenized products and onramp pathways.
Lee characterized the company’s evolution as aiming to become, in effect, a “Berkshire Hathaway for the decentralized age,” combining a capital-rich ETH treasury with targeted, high-reach investments intended to scale retail access to decentralized finance.
BitMine also highlighted financial flexibility: a near-$1B cash reserve and a debt-free balance sheet. Management said this gives the company room to fund infrastructure (including a proprietary mobile app), pursue additional “moonshot” investments and return capital without resorting to dilutive financing.
Management presented a proposal to expand authorized shares from 500 million to 50 billion to create headroom for future ETH acquisitions and strategic deals. To counter dilution concerns, Tom Lee publicly pledged that the company would not issue shares below its net asset value.
