Bitmine Immersion Technologies has further cemented its position as the largest corporate holder of Ether after adding more than 24,000 ETH to its balance sheet over the past week.
Key Takeaways:
Bitmine now controls about 4.17 million ETH, equal to roughly 3.4% of Ether’s circulating supply. The company’s crypto and cash holdings total around $14 billion, with staking playing a growing role. A pending shareholder vote could determine Bitmine’s ability to keep expanding its ETH holdings.In a statement released Monday, the company said it purchased 24,266 Ether during the week, bringing its total ETH holdings to roughly 4.17 million tokens.
That figure represents about 3.4% of Ether’s circulating supply, underscoring the scale of Bitmine’s presence in the market.
Bitmine Reports $14B in Crypto and Cash Holdings
Alongside its growing crypto stack, Bitmine reported around $14 billion in combined crypto and cash holdings, including nearly $1 billion in cash reserves.
Ether remains the cornerstone of the company’s strategy, but Bitmine also holds 193 Bitcoin and a $23 million equity stake in Eightco Holdings.
The balance sheet expansion reflects a broader push by the company to position itself as a long-term participant in the Ethereum ecosystem rather than a passive holder of digital assets.
Staking has become an increasingly important part of that strategy. Bitmine disclosed that approximately 1.26 million ETH is now staked, an increase of nearly 600,000 ETH from the previous week.
Staking allows token holders to lock up assets to help secure the Ethereum network in exchange for yield. The company is developing its own staking platform, which it plans to deploy in early 2026.
The latest update also revived calls from chairman Tom Lee for shareholders to approve an increase in authorized shares.
According to Lee, the company’s charter requires a majority vote of outstanding shares to move forward, and failure to secure approval could limit Bitmine’s ability to continue acquiring Ether at scale.
The proposal is expected to be a focal point at the company’s annual meeting scheduled for Thursday in Las Vegas.
Investors appeared to respond positively to the news. Bitmine shares rose about 3% in early trading, while Ether was trading near $3,100, down roughly 3% over the past week amid broader market softness.
Crypto Treasury Boom Leaves Digital Asset Holdings Highly Concentrated
Bitmine’s rapid accumulation highlights a wider trend among digital asset treasury companies that gained momentum in 2025.
While dozens of firms have adopted crypto-focused balance sheet strategies, holdings remain heavily concentrated.
Data from CoinGecko shows Bitmine holding more Ether than its closest rivals combined, with Sharplink and The Ether Machine trailing far behind.
On the Bitcoin side, Strategy continues to dominate corporate BTC holdings, reinforcing a market dynamic where a small number of firms wield outsized influence. Neither Strategy nor Bitmine has signaled any slowdown.
Bitmine has previously said it is targeting ownership of 5% of Ether’s total supply, roughly 6 million ETH.
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