BitMine Immersion Technologies increased its Ethereum holdings by purchasing 69,822 ETH, bringing its total position to 3,629,701 tokens, equivalent to 3% of the supply. The acquisition occurred amid a correction in ETH prices, which have fallen nearly 30% from recent highs. The company’s treasury reaches $10.2 billion solely in Ethereum.
The firm also holds 192 BTC, $38 million in Eightco Holdings, and $800 million in unencumbered cash, bringing total crypto and cash holdings to $11.2 billion. BitMine targets a limited downside risk in ETH of 5% to 7%, while aiming to capitalize on the anticipated supercycle for the cryptocurrency. The company is the undisputed leader among Ethereum treasuries worldwide and ranks as the second-largest crypto treasury overall.
BitMine is backed by prominent investors, including ARK (Cathie Wood), DCG, Founders Fund, Galaxy Digital, and Pantera, as well as individuals such as Bill Miller III and Tom Lee. The company plans to launch the “Made in America Validator Network” (MAVAN) in 2026, a secure staking infrastructure system.
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