Bitmine Expands Ethereum Holdings
According to the company's press release, Bitmine has completed its largest Ethereum purchase of 2026 in the past week. The company now holds nearly 5.4 million ETH, gradually approaching control of 5% of the Ethereum supply.
Notably, despite the overall market pullback and Ethereum prices nearing $2,000, Bitmine continues to accumulate. According to DropsTab data, the company is currently facing an unrealized loss of $7.3 million on its ETH position.
However, Bitmine remains committed to its long-term accumulation strategy, similar to the Bitcoin treasury model led by Michael Saylor.
Staking Strategy Yields Returns
According to the announcement, Bitmine expects its annual staking rewards to approach $276 million at the current staking yield. The company stated that its MAVAN validator platform supports institutional-grade staking infrastructure.
Meanwhile, Bitmine's total crypto assets and cash reserves reportedly reached $12.3 billion. These assets include 203 Bitcoins, cash reserves, and investments in Beast Industries and Eightco Holdings.
Tom Lee Reiterates Ethereum Supercycle View
Lee stated that despite recent market volatility, Bitmine plans to continue its steady accumulation of Ethereum. Earlier this month, he hinted that the company's purchasing pace may slow as it approaches its supply target.
At the same time, according to Yahoo Finance, Bitmine's stock price rose by about 3.5% in early trading on Tuesday. Lee also recently mentioned that the company is expected to be included in the Russell 1000 index.