Bitmine Ramps Up Ethereum Buying, Now Holds Nearly 4.6M ETH

[cryptohog]

Bitmine Immersion Technologies is accelerating its Ethereum accumulation strategy, adding nearly 61,000 Ether in the past week, according to chairman Tom Lee.

The latest purchases—including a direct 5,000 ETH deal with the Ethereum Foundation—bring Bitmine’s total holdings to 4.596 million ETH, representing about 3.8% of the total supply.

Around 66% of its holdings are currently staked, generating an estimated $180 million in annual revenue, as the company prepares to expand operations through its upcoming validator network.

With total assets of roughly $11.5 billion, Bitmine continues to stand out as one of the most aggressive corporate players in Ethereum—even as broader institutional accumulation slows across the market.

[AIcash]

Owning 3.8% of ETH supply is actually insane