According to an announcement released on Monday, Bitmine Immersion Technologies (NYSE: BMNR) increased its holdings by 51,162 ETH last week, bringing the total to 4.42 million ETH, accounting for 3.66% of the total ETH supply.
At a price of $1,958 per ETH, the total value of ETH held by Bitmine is approximately $8.7 billion, solidifying its position as the “largest publicly traded company holding ETH” and ranking as the second-largest crypto reserve company in the world, after Strategy.
It is worth noting that Bitmine’s large-scale accumulation coincides with what Chairman Tom Lee calls a “mini crypto winter.” In a statement, he said:
Given the continued strength of Ethereum’s fundamentals, we believe this correction is attractive, so we have been steadily buying ETH. In our view, the current market price does not reflect ETH’s high utility and its role as the future financial backbone.
Tom Lee stated that despite short-term market pressure, ETH still has three major bullish factors continuing to ferment: the Wall Street tokenization wave, increasing reliance on smart contracts for AI applications, and the creator economy shifting toward blockchain-based verification methods.
Bitmine’s strategy is not simply “HODLing,” but pursuing asset productivity. Reports show that about 68.7% (approximately 3.04 million ETH) of the ETH held by the company has been staked.
With a staking yield of 2.89%, this staked asset could generate about $171 million in passive income annually for Bitmine. The company plans to launch its own “Made in America Validator Network (MAVAN)” infrastructure this quarter. Once all ETH is staked, the annualized yield could reach $249 million.
Tom Lee added that Bitmine has already partnered with three staking service providers to prepare for the MAVAN launch.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Why Ethereum’s Path to $2.5K Could Be Tougher—Here’s Why
Ether faced renewed selling pressure as global markets retreated and traders priced geopolitical risk into risk assets. After a brief move up to $2,200, ETH slipped roughly 6% in the session, as US equities cooled and oil and gas shipments in the Middle East disrupted supply lines. The macro
CryptoBreaking6m ago
Culper Research announces short positions on ETH and related securities, claiming that Fusaka's upgraded token economic model has been damaged
Short-selling firm Culper Research announced that it is shorting Ethereum and related securities, believing that the Fusaka upgrade in 2025 will harm the ETH tokenomics model. The upgrade resulted in a larger-than-expected decrease in Gas fees, and on-chain data shows that the growth in active addresses and transaction volume is driven by low-value transactions. Culper believes Vitalik is aware of this and will continue to sell ETH, expecting ETH prices to decline further.
GateNews8m ago
Vitalik: In the application layer and the external interfaces of Ethereum, we should be brave enough to thoroughly reconstruct various concepts.
Vitalik Buterin stated on Farcaster that Ethereum needs a more open and bold mindset, especially at the application layer, emphasizing that core features should be non-negotiable. He highlighted the importance of rethinking concepts and technical directions, suggesting that applications should be redesigned from new perspectives to drive Ethereum's development and growth.
GateNews28m ago
Data: If ETH breaks through $2,175, the total liquidation strength of long positions on mainstream CEXs will reach $694 million.
ChainCatcher reports that, according to Coinglass data, if ETH breaks through $2,175, the total liquidation strength of long positions on major CEXs will reach $694 million. Conversely, if ETH drops below $1,975, the total liquidation strength of short positions on major CEXs will reach $452 million.
GateNews40m ago
Dormant Ethereum ICO Wallet Activates After 10.6 Years, Moves 100.27 ETH
Gate News bot message, a dormant Ethereum ICO wallet became active after 10.6 years and transferred 100.27 ETH ($212K) to a new wallet.
The participant invested only $125 to purchase 401.1 ETH during the ICO. The holding is now valued at $834K, representing an estimated 6,687x return on the initial
GateNews51m ago
