BitMine has significantly expanded its Ethereum holdings, now managing approximately 4.4 million ETH, which constitutes about 3.66% of the total circulating supply of ether. This strategic move positions BitMine as one of the largest institutional holders of Ethereum worldwide, with a total cryptocurrency and cash portfolio valued at roughly $9.6 billion.
Despite the ongoing challenges in the crypto market, characterized by a pullback in prices from the highs seen in 2025, BitMine has continued its accumulation strategy, purchasing an additional 51,162 ETH in its latest round of investments. This trend contrasts sharply with the broader sell-side pressure affecting the market.
Tom Lee, Chairman of BitMine, emphasized the company”s commitment to its treasury strategy during this “mini crypto winter,” stating, “Our aim carries on to be methodically carrying out our treasury strategy and gradually acquiring ETH, and in turn, optimizing the yield on our ETH holdings.”
Currently, 3.04 million ETH from BitMine”s holdings are staked, allowing the firm to accrue annualized rewards. This focus on staking underscores BitMine”s dual strategy of yield generation and accumulation during a period marked by market volatility.
In the broader context, the co-founder of Ethereum, Vitalik Buterin, has been observed liquidating portions of his ETH holdings, which has drawn attention from traders and analysts alike. His recent sales, amounting to millions, have coincided with price stabilization and increased volatility within the ETH markets.
Lee has reiterated the long-term vision of BitMine, viewing current price levels as enticing entry points, given Ethereum”s fundamental role in decentralized finance, tokenization, and smart contract technologies. This strategic positioning is further supported by BitMine”s plans to roll out its proprietary MAVAN staking infrastructure in early 2026, aimed at enhancing network participation and yield optimization.
Analysts suggest that BitMine”s accumulation approach highlights diverging institutional sentiments toward Ethereum, especially as certain high-profile figures are reducing their positions in the asset. This divergence raises questions about future market dynamics as institutional players navigate the evolving landscape of cryptocurrency investment.
