Bitmine buys an additional 50,928 Ethereum… holdings surpass 4.47 million

Bitmine, the world’s largest corporate holder of Ethereum (ETH), said it has expanded its ETH holdings to more than 4.47 million.

According to PR Newswire on the 2nd, as of the 1st Bitmine’s ETH holdings stood at 4,473,587. This represents about 3.71% of total Ethereum supply (120.7 million). Valued at an ETH price of $1,976, the stake is worth roughly $8.8 billion. Bitmine is aiming over the long term to secure 5% of ETH’s total supply.

In addition, Bitmine’s total assets were tallied at $9.9 billion. Beyond ETH, this includes 195 Bitcoin, $868 million in cash, a $200 million equity stake in Beast Industries, and a $14 million equity stake in EIGHTCO Holdings.

The company said it purchased an additional 50,928 ETH over the past week. Tom Lee, Bitmine’s chairman, said, “Even in the latter phase of a mini crypto winter, we are executing our Ethereum treasury strategy in a systematic manner,” adding, “Geopolitical uncertainty has recently increased, but we are steadily accumulating ETH and optimizing staking returns.”

He added, “Given strengthening fundamentals, we view the recent price pullback as an attractive zone,” and said, “ETH’s price does not fully reflect its utility and its role as future financial infrastructure.”

Bitmine is currently staking 3,040,483 ETH, worth about $6.0 billion at $1,976. The company estimated that applying a 2.86% yield as of the 7th would result in annual staking rewards of about $253 million. Annualized staking income is around $172 million. The CESR (Composite Ethereum Staking Rate) was tallied at 2.83%.

Meanwhile, Bitmine said it plans to launch its in-house staking solution, the “Made in America Validator Network (MAVAN),” in early 2026, and that it is currently working with three staking partners.