BitMine Tops ETH Stash With $296M Fresh Buy

BitMine Immersion Technologies, Inc. added nearly 99,000 ETH last week, worth approximately $296 million. This purchase pushes its total Ethereum stash past four million tokens, marking a key milestone for the company.

The latest acquisition adds to BitMine’s expanding portfolio. The portfolio now includes 4,066,062 ETH, 193 BTC, $32 million in a stake of Eightco Holdings (NASDAQ: ORBS), and $1 billion in cash. Its ether holdings alone represent more than 3% of the total circulating supply.

Bitmine’s ETH Growth and Staking Plans

Thomas “Tom” Lee, chairman of BitMine and Fundstrat, said the company added nearly 98,852 ETH last week. Crossing the four-million ETH mark took only 5.5 months, a milestone the company described as significant for its strategy.

Notably, the firm is the largest Ethereum treasury in the world and holds the second-largest crypto treasury overall. Only Strategy Inc. (MSTR), which owns more than 670,000 BTC, ranks above it in global crypto holdings.

In addition to growing its holdings, the company is developing the Made in America Validator Network (MAVAN) to provide staking infrastructure. MAVAN is scheduled for launch in early 2026 and is designed to support secure participation in Ethereum staking.

Experts note that such initiatives are unfolding amid a shifting regulatory environment. Observers have compared current crypto rules to the 1971 US exit from the gold standard. Measures such as the GENIUS Act and Project Crypto are expected to reshape financial systems and create new pathways for blockchain adoption.

Stock Soars Amid Crypto Expansion

BitMine’s stock has become one of the most actively traded in the US, with an average daily volume of $1.7 billion over five days. This activity places it ahead of major names like Chevron and just behind Wells Fargo in daily trading rankings.

The strong market interest reflects the company’s focus on bridging traditional finance with blockchain technology through tokenization and strategic crypto holdings. Its efforts in staking and decentralized finance highlight its commitment to supporting the broader crypto ecosystem.

By steadily expanding its ETH holdings and maintaining strong liquidity, Bitmine has established itself as a key player in crypto markets. Its combination of investment scale, infrastructure development, and stock market activity underscores the company’s growing influence.