BitMine Immersion Technologies has significantly expanded its Ethereum treasury, reinforcing its position as the largest corporate holder of ether.
BitMine Accumulates ETH During Market Pullback
The company disclosed that it acquired 40,613 ETH over the past week, bringing total holdings to 4,325,738 ETH, valued at roughly $9.2 billion at current prices. The accumulation increases BitMine’s share of the circulating ether supply to 3.58%, placing it more than two-thirds of the way toward its stated goal of controlling 5% of total ETH supply.
The purchases were made while ether remains well below its 2025 peak, a period BitMine views as an attractive entry point despite muted price performance.
Network Activity Supports Long-Term Thesis
While ETH prices have lagged, on-chain activity has continued to strengthen. Daily Ethereum transactions have reached approximately 2.5 million, with active addresses climbing to around 1 million per day in 2026. BitMine cited this divergence between price and network utility as a key driver behind its continued accumulation.
Majority of ETH Holdings Are Staked
BitMine reported that nearly 67% of its ETH treasury, or about 2.9 million ETH, is currently staked, generating an estimated $202 million in annualized staking revenue. At full deployment, the company expects staking rewards to scale significantly once its MAVAN staking network launches later in 2026.
Beyond Ethereum, BitMine holds bitcoin, equity investments, and substantial cash reserves, bringing total assets close to $10 billion. The company’s aggressive accumulation strategy underscores growing corporate confidence in Ethereum’s long-term role in global financial infrastructure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.