Bitmine Adds $68 Million Worth of Ethereum as Holdings Near 6 Million ETH
Bitmine Immersion Technologies added 27,180 Ethereum tokens last week, valued at approximately $68 million, bringing its total holdings to nearly 6 million ETH. This represents about 4.9% of the cryptocurrency's supply and is close to Bitmine’s goal of owning 5%. As of Sunday evening, the company held 5,956,378 ETH worth around $14.89 billion. Bitmine Chairman Tom Lee emphasized that Ethereum has been one of the best-performing macro assets in Q3 2026, outperforming the S&P 500 by over 5,800 basis points. He noted this trend could encourage more institutional investment into crypto. Bitmine's total holdings are valued at $15.8 billion and include Ethereum staking revenue projections of up to $392 million annually if fully optimized through partnerships like MAVAN. Meanwhile, rival firm SharpLink plans to stake $200 million in Ethereum via Lido for use in DeFi applications. In contrast, Bitcoin treasury giant Strategy did not purchase any Bitcoin last week and instead spent $139 million on preferred share buybacks.
Topics: Bitmine Immersion Technologies Crypto Treasury Strategy Ethereum Staking Revenue