BitMine buys out 300 million dollars in ether and surpasses the milestone of 4 million ETH in treasury

Source: Yellow Original Title: BitMine buys 300 million dollars in ether and surpasses the milestone of 4 million ETH in treasury

Original Link: BitMine Immersion Technologies purchased 98,852 ether last week, raising its total holdings above 4 million tokens.

The acquisition, valued at approximately 300 million dollars at current prices, raises the firm's position to 4,066,062 ETH.

BitMine now controls 3.37% of the circulating supply of ethereum.

The company maintained $1 billion in cash reserves after the purchases.

Its ETH treasury alone is around 12 billion dollars, consolidating its position as the largest known corporate holder of ethereum.

What happened

The purchase occurred while ethereum fell from $3,170 on Monday to less than $2,800 on Thursday of last week.

Since then, the token has recovered above $3,000, boosting BMNR shares by 4.5% in pre-market trading.

Last week's addition followed a previous purchase of 138,452 ETH the week before.

The president of BitMine, Thomas Lee, said that the milestone of 4 million represents a “tremendous” progress achieved in just 5.5 months.

The firm aims to achieve 5% of the total supply of ethereum.

BitMine's combined holdings of 13.2 billion dollars include 193 bitcoins and a 32 million dollar stake in Eightco Holdings, in addition to its position in ETH.

Why it is important

BitMine continues to be one of the few digital asset treasury firms that is maintaining an aggressive accumulation during the market correction.

Most of its competitors have halted purchases or begun to sell positions as stock prices fell below net asset value.

The company is carrying approximately $3 billion in unrealized losses while Ethereum is trading 36% below its August peak.

Lee expressed optimism, citing favorable legislation and increasing support from Wall Street for crypto assets.

BitMine ranks as the second largest cryptocurrency treasury in the world by total value, second only to the bitcoin holdings of Strategy Inc.

The firm trades an average of $1.7 billion daily, ranking 66th among U.S. stocks by liquidity.

BitMine plans to launch its MAVAN staking infrastructure in early 2026 to generate yield on its holdings.