BitMine, backed by Tom Lee, has expanded its Ethereum position after purchasing another 71,179 ETH, pushing its total stash closer to a major ownership milestone.
The latest buy lifts the company’s holdings to about 4.73 million ETH, roughly 3.92% of the circulating supply, keeping it on track toward its long-term goal of controlling 5%. The firm has now maintained an aggressive accumulation pace for several consecutive weeks.
Alongside the growing treasury, BitMine reported around $10.7 billion in combined crypto and cash exposure. A large portion of that sits in staked Ethereum, with roughly 3.14 million ETH deployed to earn yield. At current estimates, this generates about $177 million annually, with potential upside to $266 million if staking scales further.
The company also rolled out its new MAVAN platform, designed to provide institutional-grade staking infrastructure. Around two-thirds of BitMine’s ETH holdings are already staked, reinforcing its focus on long-term yield rather than short-term trading.
Lee emphasized the firm’s growing footprint in the ecosystem:
“Bitmine now controls 3.92% of ETH supply as accumulation and infrastructure expansion continue.”
Beyond crypto, the balance sheet includes cash reserves and strategic investments labeled as higher-risk “moonshot” bets, forming part of a broader diversification strategy.
Despite market volatility, the update helped sentiment around BitMine’s stock. Shares of BMNR edged higher in early trading, rebounding modestly after the announcement.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
