- Bitmine Immersion Technologies now holds 4.37M ETH, about 3.62% of total supply.
- 3.04M ETH are staked, generating $176M annualized with plans to boost yields.
- Firm advances its 5% “Alchemy” goal while remaining second to Strategy in crypto reserves.
Bitmine Immersion Technologies disclosed a major Ethereum purchase as crypto markets remained under pressure. According to a company statement, the firm added 45,759 ETH over the past week. The move occurred as Ethereum prices continued sliding, with purchases executed through Bitmine’s ongoing accumulation strategy.
Ethereum Accumulation and Treasury Breakdown
Bitmine confirmed total Ethereum holdings reached 4,371,497 ETH. The firm reported an average acquisition price of $1,998 per token. Based on that figure, the Ethereum position stands near $8.7 billion.
Notably, the company said its Ethereum holdings equal 3.62% of the total 120.7 million ETH supply. That level places Bitmine more than 72% toward its stated “Alchemy of 5%” objective. The company said it reached that mark within seven months.
Beyond Ethereum, Bitmine disclosed additional treasury components. These include 193 Bitcoin, $670 million in cash, and equity positions. The firm listed a $200 million stake in Beast Industries and $17 million in Eightco Holdings. Combined, Bitmine reported total crypto, cash, and “moonshot” holdings valued at $9.6 billion.
Staking Operations and MAVAN Timeline
Alongside accumulation, Bitmine detailed its staking activity. The company reported 3,040,483 staked ETH, representing about 69% of its total Ethereum holdings. At the stated average price, those staked assets equal $6.1 billion.
Bitmine reported annualized staking revenue of $176 million. However, it projected potential annual rewards of $252 million when all ETH becomes fully staked. That estimate uses a 2.89% seven-day yield.
For comparison, Bitmine cited Quatrefoil’s Composite Ethereum Staking Rate of 2.84%. The firm said its internal operations generated a slightly higher yield. To expand capacity, Bitmine confirmed it is developing the Made in America Validator Network, or MAVAN. Deployment remains scheduled for early calendar 2026, with three staking providers already engaged.
Market Context and Management Commentary
Commenting on the purchase, Tom Lee described recent price weakness as attractive relative to Ethereum’s utility. He said the company continues buying regardless of short-term market trends.
Lee also referenced remarks made at Consensus Hong Kong, where he discussed tokenization, AI agents, and identity standards. He added that Ethereum’s neutrality and reliability featured heavily in those discussions.
Bitmine stated it remains the second-largest crypto treasury holder globally, behind Strategy, which announced a separate Bitcoin purchase the same day.
