Key Takeaways
- Bitmine controls 3.41% of the total Ethereum supply, holding 4.1 million ETH.
- The company is pursuing a target to control 5% of the ETH token supply.
Bitmine Immersion Technologies, one of the largest corporate crypto treasuries, acquired 44,463 Ethereum last week and now controls about 4.1 million ETH, equal to roughly 3.4% of the total supply, according to a Monday press release.
Chairman Thomas “Tom” Lee noted in a statement that the acquisition underscores Bitmine’s role as the leading net buyer of Ethereum, especially at a time when overall market activity generally softens heading into year-end.
On current declines in crypto and crypto-linked stocks, he pointed to tax-loss selling as a key factor.
Bitmine has deployed 408,627 ETH, valued at about $1.2 billion, into staking with three providers, confirming on-chain activity flagged over the weekend. The company added that its proprietary Made in America Validator Network, or MAVAN, is well on track to go live in the first quarter of 2026.
The company will convene its Annual Stockholder Meeting at the Wynn Las Vegas on January 15, 2026, seeking approval for four proposals, one of which would raise the authorized share count for its common stock.
Source: https://cryptobriefing.com/bitmine-acquires-ethereum-starts-staking/
