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Bitmain Bought an Additional 44,463 Ethereum Last Week…Holdings Surpass 4.11 Million
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- Bitmain said it purchased an additional 44,463 Ethereum last week, expanding its total holdings to about 4,110,000.
- This corresponds to 3.41% of the total circulating supply of Ethereum, and the company said it continues its strategy of accumulating Ethereum as a long-term investment asset.
- Bitmain is building staking infrastructure based on its held Ethereum and anticipates annual staking revenue of $374 million.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Bitmain, the world's largest holder of Ethereum (ETH), increased its Ethereum holdings further last week through large-scale purchases.
According to PR Newswire on the 29th, Bitmain purchased an additional 44,463 Ethereum over the past week. As a result, the company's Ethereum holdings expanded to a total of 4,110,525. This represents about 3.41% of the total circulating supply of Ethereum.
As of the 28th, Bitmain holds about 4,110,000 Ethereum and 192 Bitcoin, and its cash holdings are at about $1 billion. Total assets, including other crypto assets and some equity investments, were estimated at about $13.2 billion.
Tom Lee, Bitmain chairman, said, "As year-end approaches, market liquidity is slowing and crypto asset prices are under pressure from tax-loss selling," adding, "We are continuing to buy Ethereum in light of this environment." He added, "We have already reached about two-thirds of the way toward our goal of securing 5% of Ethereum supply."
Bitmain is, alongside its strategy of accumulating crypto assets as long-term investments, also building Ethereum-based staking infrastructure. According to the company, currently staked Ethereum amounts to 408,627, representing part of the total holdings. The validator network is being prepared with a goal to be operational in Q1 2026.
The company projected that if all the held Ethereum were staked in the future, annual staking revenue could reach about $374 million (based on an annual 2.81%). This is more than $1 million per day.
Bitmain is currently the world's largest holder of Ethereum and is continuously strengthening its Ethereum-centered treasury strategy.
