Bitmine Immersion Technologies has recently increased its Ether holdings as part of a broader strategy pushed by its chairman, Tom Lee. Over the last week, the company added 24,266 Ether (ETH) to its assets, bringing its total Ether holdings to roughly 4.17 million ETH, which represents about 3.4% of the total circulating supply.
According to a public announcement earlier this week, the company has reported approximately $14 billion in total crypto and cash assets, with around $988 million held in cash. Alongside its Ether reserves, Bitmine also possesses 193 Bitcoin (BTC) and a $23 million stake in Eightco Holdings.
In addition to acquiring more Ether, Bitmine is also enhancing its staking activities, which currently involve nearly 1.26 million ETH, an increase of 596,864 ETH from the previous week. Staking is crucial for operating blockchain networks and generating yields. The company is developing its own staking platform, planned for deployment in early 2026.
Tom Lee has reiterated the need for shareholder approval to boost the number of authorized shares to align with Bitmine’s growth strategy ahead of the annual meeting in Las Vegas this Thursday. Without this approval, Lee cautioned, the company might face limitations in further expanding its Ether portfolio.
In early trading, Bitmine shares saw a 3% increase as reported by Yahoo Finance, while the price of Ether was approximately $3,100, down 3.3% over the past week.
Key Highlights:
- Bitmine’s recent Ether holdings increase enhances its position within the digital assets market.
- The push for more authorized shares indicates strategic growth plans.
- Staking activities are set to play a pivotal role in the company’s future operations.
Related: Ethereum treasury company Bitmine crosses 1 million staked ETH milestone
Company Comparison: By 2025, many digital asset treasury companies have emerged, with Bitmine leading significantly in Ether holdings, holding 4,167,768 ETH valued at nearly $13 billion. Strategy, a company led by Michael Saylor, has become the largest Bitcoin treasury holder with 687,410 BTC, illustrating the competitive landscape of digital asset management.
