BitMine Immersion Technologies has expanded its Ethereum holdings to 4.423 million ETH, representing roughly 3.66% of the total circulating supply of Ethereum.
According to the company’s latest disclosure, BitMine’s combined crypto and cash reserves now total approximately $9.6 billion, placing it among the largest institutional holders of Ether globally.
Continued accumulation despite market softness
Even amid a recent pullback in crypto markets, BitMine added another 51,162 ETH to its position. The move stands out at a time when some market participants have been reducing exposure.
Chairman Tom Lee said the company remains focused on executing its treasury strategy methodically:
“In the midst of this ‘mini crypto winter,’ our focus continues to be on steadily acquiring ETH and optimizing yield.”
Heavy staking strategy
Out of its total holdings, 3.04 million ETH are staked, generating annualized rewards. This reflects a dual strategy:
- Long-term accumulation
- Yield generation through staking
The company is also developing its proprietary MAVAN staking infrastructure, expected to launch in early 2026, aimed at increasing staking efficiency and network participation.
Contrast with Vitalik Buterin’s recent sales
The accumulation comes as Vitalik Buterin has been selling portions of his personal ETH holdings in recent weeks. His sales, reportedly worth millions, have drawn attention from traders during a period of price consolidation and elevated volatility.
While Buterin’s activity reflects personal portfolio management, BitMine’s strategy signals strong institutional conviction in Ethereum’s long-term role in:
- Decentralized finance (DeFi)
- Tokenization
- Smart contract infrastructure
Diverging institutional strategies
Analysts note a growing split in behavior:
- Some insiders trimming positions amid volatility
- Corporate treasuries like BitMine increasing exposure and staking for yield
BitMine’s aggressive accumulation underscores a long-horizon approach, betting that current price levels represent an attractive entry point despite near-term market weakness.
