BitMine Acquires 69,822 ETH Last Week, Now Holds 3% of Entire Supply
BitMine Immersion Technologies has revealed that it purchased 69,822 ETH over the past week, bringing its total holdings to approximately 3.63 million tokens—roughly 3 percent of the total circulating supply of ETH. The move represents a continuation of its long-term treasury strategy, even as broader crypto markets face liquidity pressures, price volatility and growing regulatory scrutiny.
According to BitMine’s disclosure, the acquisition forms part of an ongoing accumulation plan, funded through operational cash reserves and portions of its BTC-mining revenue. The company reported that it now holds $800 million in unencumbered cash alongside its digital assets, bringing its combined cash and crypto treasury to around $11.2 billion. While many digital-asset firms have paused accumulation amid uncertain market conditions, BitMine’s addition of nahead 70,000 ETH signals confidence in the long-term value of ETH and the evolving staking ecosystem.
Strategic implications and risk posture
BitMine’s growing ETH position underscores a broader trend of corporations adopting major crypto assets as core balance-sheet holdings rather than speculative instruments. With control of roughly 3 percent of ETH’s supply, the company stands among the largest single-entity holders globally. This gives BitMine significant strategic optionality, including potential influence over staking infrastructure, Block confirmer operations and treasury-yield optimization.
However, the strategy also exposes the company to considerable market risk. As ETH prices fluctuate, unrealised losses can accumulate rapidly. BitMine has acknowledged that recent market declines have resulted in substantial unrealised losses across its holdings. Concentration risk is another factor, as holding such a large portion of the network’s tokens may attract regulatory scrutiny and raise concerns regarding governance, token velocity and Block confirmer centralisation.
Broader implications for markets and staking infrastructure
Large holders such as BitMine can influence staking-yield benchmarks and collateral dynamics, especially as ETH’s economic model continues transitioning from high issuance to yield-based incentives. For derivatives markets and on-chain perpetuals platforms, the activity of major treasury holders may shape liquidity flows, volatility patterns and hedging behaviour.
Looking ahead, key developments to monitor include whether BitMine continues accumulating ETH, shifts toward monetisation strategies or increases staking participation. The company’s planned Made-in-America Block confirmer Network, expected to launch in 2026, may further integrate its holdings into the broader ETH infrastructure. Market participants will also be watching how ETH supply distribution evolves if more treasury-focused firms follow similar accumulation strategies.
In summary, BitMine’s acquisition of 69,822 ETH last week highlights its commitment to large-scale ETH ownership, reinforcing its position as a leading institutional holder. While it reflects confidence in ETH’s long-term prospects, the strategy comes with substantial risk, making ongoing monitoring essential for stakeholders across the crypto market, particularly those operating within derivatives, staking and liquidity ecosystems.
