Bitmine’s Billion-Dollar Ethereum Bet Takes Off, Here’s How the Company Is Going Up
Bitmine Immersion Technologies makes a statement about its aggressive collection and exploitation of Ethereum. In just a few months, the company has amassed one of the largest known ETH holdings held by a publicly traded company, moving steadily toward its stated goal of controlling 5% of the total Ethereum.
According to in recent disclosures, Bitmine now holds about 4.17 million Ethereum (ETH) tokens, about 3.45% of the total amount in circulation. In addition, the company’s total ETH holdings now exceed 1.2 million tokens.
Heavy Poles and a Clear Target
Bitmine is now The biggest new ETH coin buyer world, and its series of ETH purchases kept many Ethereum investors on the edge of their seats as to how this might affect the altcoin’s price.
Bitmine Immersion has invested approximately $3.9 billion of Ethereum in holdings under the leadership of Tom Lee, a move that reflects confidence in ETH’s long-term prospects and the company’s desire to generate yield for its investors. Notably, the total value of the company included ETH calculations he has passed now 1.2 million tokens, which is close to 70 percent of the way to its self-proclaimed “5% Alchemy” target of owning 5% of all Ethereum in circulation.
Bitmine’s method of staking is starting to be more than passive yield. The company is preparing to launch its own Made in America Validator Network (MAVAN), which it says will be among the largest participating ETH infrastructures in the ecosystem when it goes live.
This means that Bitmine is now looking to transition from holding and holding Ether through third parties to becoming a tangible infrastructure provider. If all of Bitmine’s ETH stake was controlled by MAVAN and its partners at current prices, Ethereum staking funds would generate approximately $370 million for the company.
Increasing Balance to Support Ethereum Collection
Bitmine balance expands well exceeded its assigned duties. The company now owns a diverse portfolio of assets including Bitcoin, Ethereum, other digital assets, and cash, with a total net worth of approximately $14 billion, including just over 4 million of its own ETH.
Interestingly, the company has continued to add to its holdings in recent weeks, as it increases its liquidity position. Recent purchases it was 24,266 ETH last week.
At the same time, the company made a decision that the company says is important to maintain this strategy of gradually collecting Ethereum tokens. Notably, Bitmine now wants a positive shareholder vote of 50.1% to increase the number of authorized shares at their annual shareholders meeting scheduled for January 15, 2026.
According to the company, the current authorization of 500 million shares is close to being used up, and once that limit is reached, its ability to continue to acquire Ethereum at the current rate could be significantly reduced.
Featured image from Getty Images, chart from Tradingview.com
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