Bitmine Immersion Technologies has increased its Ethereum (ETH) reserves to more than 4.53 million ETH after acquiring 60,976 ETH worth roughly $120 million over the past week, strengthening what is already the largest known corporate holding of the cryptocurrency.
The latest purchase brings the company’s total Ethereum treasury to 4,534,563 ETH, representing about 3.76% of Ethereum’s circulating supply, which currently stands near 120.7 million tokens.
At a market price of roughly $1,965 per ETH, the company’s holdings are valued at approximately $8.9 billion, making Ethereum the dominant component of Bitmine’s digital asset balance sheet.
Staking Strategy Generates Yield On Majority Of Holdings
A significant portion of Bitmine’s Ethereum reserves is actively generating yield through staking.
The company disclosed that 3,040,483 ETH, about two-thirds of its total holdings, is currently staked on the Ethereum network.
Based on prevailing validator rewards, those positions are estimated to generate around $174 million in annualized staking revenue.
This approach reflects Bitmine’s strategy of treating Ethereum not only as a treasury asset but also as a productive capital base capable of producing ongoing returns through network participation.
Combined with its crypto treasury, Bitmine reported $10.3 billion in total assets, including $1.2 billion in cash reserves, 195 Bitcoin (BTC), and minority investments in companies such as Beast Industries and Eightco Holdings.
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Company Pursues Long-Term Goal Of Controlling 5% Of ETH Supply
Bitmine has increasingly positioned Ethereum at the center of its treasury strategy as the company works toward what it describes internally as the “alchemy of 5%”, a target of eventually holding roughly 5% of Ethereum’s total supply.
Chairman Tom Lee said the firm has accelerated its purchases as the broader crypto market navigates what he characterized as the late phase of a downturn.
Lee noted that Ethereum prices have remained relatively stable despite geopolitical tensions and rising oil prices, adding that the company believes the market may be nearing the end of what he described as a “mini-crypto winter.”
The company’s accumulation strategy also coincides with rising demand to stake ETH across the network.
Blockchain data indicates that more than 3.2 million ETH are currently waiting to join the validator set, while fewer than 60,000 ETH are queued for withdrawal.
The imbalance suggests continued inflows into Ethereum staking infrastructure.
Ether was trading near $2,000 at the time of publication, while Bitmine’s publicly traded shares remained largely unchanged in pre-market trading.
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