BitMine Added 21,537 ETH Through Wallet 0x5664 as Its Treasury Reached 3.5 Million Tokens

BitMine lifted its ETH reserve above 3.5M tokens after a 21,537-ETH transfer from FalconX.

The firm kept buying ETH during a market drop while citing broad liquidity shocks as the cause.

BitMine advanced its MAVAN staking network for 2026 and confirmed a new annual dividend.

BitMine continued to increase its Ethereum position as market pressure pushed its stock lower. A new wallet known as 0x5664 received 21,537 ether from FalconX, and data firms said the wallet is likely linked to the company. The transfer came as Ethereum traded lower during the month and created unrealized losses on BitMine’s balance sheet.

BitMine Expands ETH Reserve Through New Transfer and Ongoing Buying

Lookonchain tracked the 0x5664 wallet and reported that the address has activity that matches past BitMine movements. The 21,537 ether transfer raised BitMine’s known holdings to more than 3.5 million tokens. This amount equals about 3% of the total circulating supply, and it places the company among the largest corporate holders within the Ethereum market.

The recent decline in Ethereum’s price increased pressure on BitMine’s treasury, yet the firm continued to add to its reserve. The company described its activity as part of its “Strategic ETH Reserve” program. The program focuses on building a large ether position during market stress, and it has operated through several cycles of price weakness.

Thomas Lee from BitMine said the current downturn came from broad market mechanics. He said the October liquidity shock removed large leveraged positions across the sector. He also compared the clearing process with the events that followed the FTX collapse in 2022. Lee added that the company expects market conditions to improve once selling pressure settles.

Validator Network Development and Shareholder Distribution Efforts

BitMine also continued work on its “Made in America Validator Network,” known as MAVAN. The project is planned for early 2026 and aims to create a U.S.-based staking system. The firm selected three pilot partners to test the network, and it intends to add new partners as development continues.

Lee said BitMine wants to build an important location for its staked ether. He said the company intends to grow the network with leading infrastructure firms. If BitMine stakes its full holdings, the firm could produce steady rewards that support long-term revenue.

The company also announced a small annual dividend. It said the dividend reflects confidence in its combined approach of token accumulation, staking development, and shareholder payments.

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