Key Highlights
- Bitmine’s ETH holdings represent approximately 3.66% of the total Ethereum supply of 120.7 million tokens.
- Chairman Thomas “Tom” Lee highlighted that Bitmine views recent Ethereum price pullbacks as an opportunity to acquire more ETH.
Bitmine Immersion Technologies, Inc. (BMNR), an Ethereum-focused treasury firm, announced today that it has increased its Ethereum (ETH) holdings by 51,162 ETH, bringing its total ETH holdings to 4,422,659 tokens. At the current market price of $1,958 per ETH, these holdings represent approximately 3.66% of the total Ethereum supply of 120.7 million tokens.
According to the official announcement, the company’s total crypto portfolio, including Bitcoin, stakes in select firms, and cash reserves, now totals $9.6 billion. This positions Bitmine as the largest Ethereum treasury globally and the second-largest overall crypto treasury behind Strategy Inc., which holds 717,722 BTC valued at $54.6 billion.
Treasury strategy amid market pullback
Chairman Thomas “Tom” Lee highlighted that Bitmine views recent Ethereum price pullbacks as an opportunity to acquire ETH at favorable valuations.
He added, “Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”
Lee emphasized three drivers for Ethereum’s ongoing relevance: Wall Street’s tokenization efforts, AI and autonomous systems, and the growing creator economy adopting blockchains.
Staking and yield optimization
Bitmine currently stakes 3,040,483, about 69% of its total Ethereum holdings, through its Made in America Validator Network (MAVAN) and partner staking providers. This portfolio generates $171 million in annualized revenue, with a seven-day yield of 2.89%, above the Composite Ethereum Staking Rate (CESR) of 2.81%.
Lee stated, “Bitmine has staked more ETH than any other entity in the world… When fully deployed, MAVAN will offer secure, best-in-class staking infrastructure, set to launch in early 2026.”
The staking program is intended to improve returns on Ethereum holdings while reinforcing Bitmine’s influence in the ETH network.
Previous ETH purchase
The latest purchase comes a week after Bitmine announced acquiring 45,759 ETH. At the time, Lee drew comparisons to previous market downturns in 2018 and 2022 but noted the absence of large-scale industry failures in the current cycle.
Speaking at Consensus Hong Kong 2026, Lee also talked about ETH and recent market volatility. He stated that the digital asset has bounced back from big drops before and is now getting close to a short-term bottom, indicating his bullish view.
Leading ETH treasury market
With its ongoing acquisitions and staking operations, Bitmine remains the top holder of Ethereum globally, maintaining a strategy focused on long-term accumulation, utility, and yield. The company’s strategy shows the increasing trend among institutional investors to build large-scale, actively managed digital asset treasuries.
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