Bitmine Immersion Technologies has significantly expanded its Ethereum treasury over the past week. In a press release issued today, the company disclosed that it acquired 60,976 ETH, bringing its total holdings to 4,534,563 (about 4.53 million) ETH.
As a result, Bitmine’s combined crypto and cash portfolio has climbed to approximately $10.3 billion, including $1.2 billion in cash and several strategic investments. Consequently, the latest purchases now represent about 3.76% of Ethereum’s total supply, further reinforcing Bitmine’s position as the largest Ethereum treasury holder globally.
Its latest purchase moves the company closer to its goal of securing 5% of Ethereum’s total supply. To reach this target, Bitmine still needs to acquire an additional 1,500,039 ETH, which would increase its total holdings to 6,034,602 ETH (about 6.03 million ETH), equivalent to 5% of Ethereum’s circulating supply.
Tom Lee’s Bitmine Buys Additional 20,000 Ethereum Amid Latest Dip
Tom Lee Says Ethereum May Be Nearing a Bottom
According to Bitmine Chairman Tom Lee, the company accelerated its buying pace after identifying market signals that suggested Ethereum may be approaching the bottom of the current cycle.
Specifically, Lee pointed to an analysis from Tom DeMark of DeMark Analytics, who compared Ethereum’s recent price behavior with historical movements of the S&P 500 during the 1987 and 2011 market cycles.
Based on DeMark’s model, Ethereum could reach its cyclical bottom between March 8 and March 14, potentially dipping slightly below the recent $1,740 low before entering a recovery phase.
67% of Bitmine’s ETH Holdings Are Staked
Meanwhile, Bitmine continues to expand its staking operations alongside its accumulation strategy. Currently, the company has 3,040,483 ETH staked, representing about 67% of its total Ethereum holdings.
These staked assets generate approximately $174 million in annualized staking revenue, based on a 2.91% yield, which slightly exceeds the broader Composite Ethereum Staking Rate (CESR).
Looking ahead, Bitmine expects its staking capacity to increase further with the rollout of its Made in America Validator Network (MAVAN), a staking infrastructure project scheduled for deployment in 2026 and developed with several staking partners.
Bitmine Ranks Among Largest Corporate Crypto Treasuries
Although Ethereum remains the core of its treasury strategy, Bitmine also maintains smaller allocations to Bitcoin and select equity investments, including stakes in Beast Industries and Eightco Holdings.
Within the broader corporate crypto landscape, Bitmine now ranks as the second-largest global crypto treasury. However, it still trails Strategy Inc., which holds more than 738,700 BTC valued at roughly $50 billion.
Tom Lee’s BitMine Purchases $130M in Ethereum, Expands Stake to 3.41% of Total Supply
Temitope Olajide
Evans Kelvin
