Bitmine Immersion Technologies bought $213 million worth of Ethereum during the recent market dip, raising its total holdings to about 5.54 million ETH. The company now controls about 4.59% of Ethereum’s circulating supply and is still aiming to own 5% of the network.
The company said it bought another 126,971 ETH over the past week while Ethereum was trading near $1,600. Chairman Tom Lee said the recent price drop does not change his view that Ethereum’s long-term fundamentals are getting stronger.
Over 85% of Bitmine’s ETH is staked using its MAVAN validator platform. At current prices, this staked amount is worth about $7.7 billion and brings in an estimated $270 million a year in staking rewards based on recent yields.
Bitmine also made a big purchase on May 26, buying 111,942 ETH for about $237 million. This latest buy makes Bitmine one of the largest institutional holders of Ethereum.
Besides Ethereum, the company owns 204 BTC, about $247 million in cash, and some strategic equity investments. Bitmine says its total portfolio of crypto, cash, and investments is now worth around $9.6 billion.
This approach shows Bitmine’s strong belief in Ethereum’s importance for tokenization, decentralized finance, and AI infrastructure. However, it also means the company faces a lot of crypto market volatility, and its future results will depend on Ethereum’s adoption and the wider economy.
1/
BitMine provided its latest holdings update for June 8, 2026$9.6 billion in total crypto + “moonshots”:
– 5,543,872 ETH at $1,630 per ETH per ETH (per@coinbase)
– 203 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $88 million stake in…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 8, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment