According to an announcement released on Monday, Bitmine Immersion Technologies (NYSE: BMNR) increased its holdings by 51,162 ETH last week, bringing the total to 4.42 million ETH, accounting for 3.66% of the total ETH supply.
At a price of $1,958 per ETH, the total value of Bitmine’s ETH holdings is approximately $8.7 billion, solidifying its position as the “largest publicly traded company holding ETH” and ranking as the second-largest crypto reserve company globally, after Strategy.
It is noteworthy that Bitmine’s large-scale accumulation coincides with what Chairman Tom Lee calls a “mini crypto winter” in the market. In a statement, he said:
Given the continued strength of Ethereum’s fundamentals, we believe this correction is attractive, so we have been steadily buying ETH. In our view, the current market price does not reflect ETH’s high utility or its role as the future financial backbone.
Tom Lee stated that despite short-term market pressure, ETH still has three major bullish factors continuing to develop: the Wall Street tokenization wave, increasing reliance on smart contracts for AI applications, and the creator economy shifting toward blockchain-based verification methods.
Bitmine’s strategy is not merely “HODLing,” but pursuing asset productivity. The report shows that about 68.7% (approximately 3.04 million ETH) of its holdings are staked.
With a staking yield of 2.89%, this staked amount could generate about $171 million in passive income annually for Bitmine. The company plans to launch its own “Made in America Validator Network (MAVAN)” infrastructure this quarter. Once all ETH are staked, the annualized yield could reach $249 million.
Tom Lee added that Bitmine has already partnered with three staking service providers to prepare for the MAVAN launch.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Jiuzi Holdings raises $80 million through a rights issue to support the development of the crypto asset treasury
Jiuzi Holdings has signed an agreement with strategic investment institutions to subscribe for 40 million shares at $2 per share, raising $80 million. The funds will be used to expand cash reserves, build a crypto asset treasury, and develop an asset allocation strategy. The treasury will include various cryptocurrencies such as Bitcoin and Ethereum.
GateNews45m ago
While Bitcoin and Ethereum Consolidate, This Altcoin Is Quietly Preparing for a Major Rally - BTC Hunts
The post While Bitcoin and Ethereum Consolidate, This Altcoin Is Quietly Preparing for a Major Rally appeared first on Coinpedia Fintech News
While Bitcoin and Ethereum continue to move sideways, one major altcoin appears to be quietly building momentum beneath the surface. Growing
BTCHUNTS1h ago
BlackRock ETHA deposits 12,397 ETH into a CEX, worth 25.59 million USD
Gate News Report, March 6th, according to Arkham monitoring, BlackRock ETHA address deposited 12,397 ETH to a CEX, worth 25.59 million USD.
GateNews1h ago
Ethereum Day will be held in Hong Kong on March 11, focusing on the three major areas of AI, RWA, and DeFi
The Ethereum Foundation, SNZ, and ETHTAO held the Ethereum Day event with the theme of AI/RWA/DeFi in Hong Kong on March 11, discussing technological integration and ecosystem collaboration. Participating projects included Alias and Hubble AI.
GateNews2h ago
Data: If ETH breaks through $2,167, the total liquidation strength of long positions on mainstream CEXs will reach $918 million.
ChainCatcher reports that, according to Coinglass data, if ETH breaks above $2,167, the total liquidation strength of long positions on major CEXs will reach $918 million. Conversely, if ETH drops below $1,965, the total liquidation strength of short positions on major CEXs will reach $504 million.
GateNews2h ago
Cumberland withdrew 14,800 ETH from a certain CEX 30 minutes ago, worth approximately $30.8 million.
Gate News reports that on March 6th, Lookonchain monitoring showed that market maker Cumberland continued to increase its Ethereum holdings, approximately 30 minutes ago, withdrawing 14,800 ETH from a CEX, worth about $30.8 million.
GateNews3h ago
