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 in the world, after Strategy.
It is worth noting that Bitmine’s large-scale accumulation coincides with what Chairman Tom Lee calls a “mini crypto winter.” 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 a future financial cornerstone.
Tom Lee stated that despite short-term market pressure, ETH still has three major bullish factors continuing to ferment: 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 simply “HODLing,” but rather pursuing asset productivity. The report shows that about 68.7% (approximately 3.04 million ETH) of the ETH held by the company has been staked.
With a staking yield of 2.89%, this staked asset 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 is 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 launch of MAVAN.
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
Vitalik Buterin supports AI company Anthropic in resisting White House military technology usage demands
Ethereum co-founder Vitalik Buterin supports AI company Anthropic in refusing to allow the U.S. military to use its technology for autonomous weapons. The U.S. military has issued a final warning to Anthropic, and reports indicate that AI could cause the U.S. unemployment rate to exceed 10% by 2028. Anthropic is valued at $380 billion, with 80% of its revenue coming from corporate clients.
GateNewsBot16m ago
Gate Research Institute: ESP up over 60% in the past 24 hours | Ethereum RWA market cap surpasses $15 billion
Cryptocurrency Asset Overview
BTC (+2.41% | Current Price 65,768 USDT)
BTC has shown a significant rebound from its recent lows in the past 24 hours, with the price rising from around $62,500 to above $65,700. The short-term trend indicates a recovery, but overall it remains in the rebound phase following a previous decline. In terms of moving averages, the MA5 has crossed above the MA10 and is gradually approaching the MA30, indicating a short-term momentum recovery, though the medium-term trend has not fully reversed. The MACD is below the zero line, forming a golden cross, with the red momentum bars continuing to expand, suggesting the rebound's continuation. Resistance levels to watch are in the $66,800–$68,700 range. If trading volume remains insufficient, a pullback to test support at $64,500–$63,800 is still possible.
ETH (+3.18% | Current Price 1,910 USDT)
ETH's performance remains
GateResearch34m ago
Data: If ETH drops below $1,817, the total long liquidation strength on mainstream CEXs will reach $961 million.
ChainCatcher reports that, according to Coinglass data, if ETH drops below $1,817, the total liquidation strength of long positions on major CEXs will reach $961 million. Conversely, if ETH breaks above $2,006, the total liquidation strength of short positions on major CEXs will reach $479 million.
GateNewsBot49m ago
Ethereum Foundation Sets Clear Rules for Future DeFi Support
Vitalik Buterin emphasized Ethereum's commitment to DeFi, focusing on support for decentralized, privacy-preserving protocols that empower users financially. He urged developers to exceed mere incremental improvements, calling for independent, secure systems that pass the "walkaway test."
CryptoFrontNews54m ago
Ethereum treasury company FG Nexus sells another 7,550 ETH, currently holding 30,094 ETH with an accumulated unrealized loss of approximately $82.8 million.
FG Nexus has sold an additional 7,550 ETH, valued at approximately $14.06 million. Previously, the company purchased 50,770 ETH at an average price of $3,860 and planned to increase its holdings, but then began to reduce its position, cashing out a total of about $55.7 million. Currently, it still holds 30,094 ETH, with an unrealized loss of approximately $82.8 million.
GateNewsBot1h ago
Ethereum DeFi Reset: Foundation Enhances Security and Privacy Protocols to Support Cyberpunk-Grade Projects
February 25 News, Ethereum co-founder Vitalik Buterin recently outlined a new vision for Ethereum in the decentralized finance (DeFi) space. The Ethereum Foundation announced that it will prioritize support for permissionless, privacy-focused, and secure protocols, emphasizing user sovereignty and long-term stability.
The announcement stated that the foundation will focus on supporting open-source, security-centric DeFi projects to ensure protocols can operate normally even if the original team disappears or faces attacks. Buterin introduced the concept of a "detachment test," requiring protocols to maintain stability and sustainability in the absence of the founding team, while also reducing reliance on centralized institutions.
GateNewsBot1h ago
