BitMine Goes Shopping, Accumulates 40,613 ETH Amid Market Decline

While the crypto winter intensifies, BitMine Immersion Technologies has remained committed to accumulating more ether (ETH).

Instead of slowing down, the company used the price downturn to expand its Ethereum position, adding 40,613 ETH (worth $86.3 million) as prices remained well below recent highs. The move highlights BitMine’s long-term belief in Ethereum and its willingness to build during periods of market uncertainty.

After its most recent purchase, BitMine’s Ethereum holdings have grown to 4,325,738 ETH, worth approximately $9.2 billion at today’s prices. This further cements the company’s status as the largest corporate holder of Ethereum in the world.

BitMine Strengthens ETH Holdings with Staked Tokens

BitMine has put a significant portion of its ETH holdings to work, with around 2.9 million ETH, nearly two-thirds of its holdings actively staked and generating steady rewards instead of sitting idle. At the current price of $2,125 per ETH, the staked assets alone are worth approximately $6.2 billion, highlighting the scale and impact of BitMine’s staking operations.

Thomas Lee, Executive Chairman of BitMine, highlighted the company’s staking performance, saying:

“Annualized staking revenues are now $202 million, up +7% in the past week. And this 2.9 million ETH is about 67% of the 4.3 million ETH held by Bitmine. [. . .] Bitmine’s own staking operations generated a 7-day yield of 3.3234% (annualized). We continue to make progress on our staking solution known as The Made in America VAlidator Network (MAVAN).”

Building Through Volatility

Even with Ether’s price down 62% from 2025 highs, network activity has been strong. However, the company’s latest acquisition builds on its previous Ether purchases, highlighting its ongoing confidence in the cryptocurrency and demonstrating a strategy of steadily increasing its holdings.

According to Tom Lee, such volatility is normal, and past declines have often been followed by strong recoveries. These trends show that Ethereum usage continues to grow, supporting BitMine’s long-term confidence in the asset.

The company is also preparing the launch of its Made in America Validator Network (MAVAN), expected in early 2026. Designed as a secure, large-scale staking solution, MAVAN will further strengthen BitMine’s role within Ethereum’s proof-of-stake ecosystem.

Beyond Ethereum, BitMine maintains a diversified crypto treasury, including Bitcoin holdings. Ranked as the largest Ethereum treasury in the world and the second-largest crypto treasury overall, BitMine is positioning itself for the next phase of Ethereum’s growth.