- BitMine increased its Ethereum holdings to 5.74 million ETH after purchasing another 42,197 ETH last week.
- The company is approaching its goal of owning 5% of Ethereum’s circulating supply while ETH remains below key resistance levels.
BitMine Immersion Technologies has expanded its Ethereum treasury with another major purchase, reinforcing its position as one of the largest corporate holders of ETH. The latest acquisition comes as Ethereum continues to trade below key resistance levels, while the company edges closer to its ambitious target of owning 5% of the circulating supply.
BitMine Adds More Ethereum to Its Treasury
BitMine Immersion Technologies (BMNR) purchased 42,197 ETH over the past week, continuing its aggressive Ethereum accumulation strategy.
The latest purchase increased the company’s total holdings to 5.74 million ETH, valued at approximately $10.27 billion at the time of writing. This makes BitMine one of the largest institutional holders of Ethereum.
Besides Ethereum, the company also holds:
- 206 Bitcoin (BTC)
- A $180 million equity stake in Beast Industries
- A $71 million Worldcoin treasury position
- Exposure to Eightco Holdings (ORBS)
- $527 million in cash and marketable securities
The growing treasury highlights BitMine’s long-term confidence in Ethereum despite recent market weakness.
BitMine Nears Its 5% Ethereum Supply Target
According to data from Arkham, BitMine now controls approximately 4.75% of Ethereum’s circulating supply. To reach its stated goal of owning 5% of the circulating supply, the company would need to acquire an additional $523.7 million worth of ETH based on current prices.
Notably, BitMine’s reported $527 million in cash and marketable securities is enough to fund that purchase if management decides to continue buying.
Regulatory Clarity Supports the Company’s Strategy
BitMine Chairman Thomas Lee believes improving regulation could strengthen Ethereum’s long-term outlook.
Lee pointed to the proposed Clarity Act, saying greater regulatory certainty could help smart contract platforms such as Ethereum become more integrated into everyday financial activities.
The company views clearer regulations as an important step toward wider cryptocurrency adoption and continued institutional participation.
BitMine Faces Different Challenges Than Some Crypto Treasury Firms
While BitMine continues expanding its Ethereum reserves, other crypto treasury companies are facing difficult market conditions. Last week, Strategy disclosed that it sold 3,588 BTC worth $216 million to meet dividend obligations tied to its preferred stock. The move highlighted the financial pressure some firms face during market downturns.
BitMine has also launched a preferred stock offering, raising questions about whether it could face similar pressure if crypto prices remain weak. However, Chairman Thomas Lee said the company’s annualized staking income is enough to cover its preferred stock dividend payments. That reduces the likelihood of BitMine selling its Ethereum holdings to meet those obligations.
Ethereum Staking Generates Strong Revenue
BitMine has staked approximately 4.87 million ETH, which the company says is more than any other entity globally. The large staking position enables BitMine to earn rewards while keeping most of its Ethereum holdings locked in the network.
According to the company, its annualized staking revenue is approximately $235 million. Thomas Lee has previously stated that this income is sufficient to cover the annual dividend obligations tied to BitMine’s preferred stock, allowing the company to maintain its long-term Ethereum strategy without selling its holdings.
Ethereum Price Faces Key Resistance
Despite BitMine’s continued buying, Ethereum remains under technical pressure. ETH is trading below the 50-day EMA near $1,807 and the 100-day EMA around $1,970. The $1,806–$1,807 zone remains a key resistance level that buyers must reclaim before a stronger recovery can begin.
As BitMine moves closer to controlling 5% of Ethereum’s circulating supply, investors will watch whether the company continues buying ETH. They will also monitor whether regulatory progress and staking revenue support their long-term strategy.
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