Bitmine lifts ether treasury to 4.47 million ETH as total holdings near $10 billion

Bitmine Immersion Technologies (BMNR) has expanded its Ethereum treasury to 4.47 million ETH as of March 1, representing 3.71% of the total supply and valued at approximately $8.8 billion at the time of reporting. This positions Bitmine as the largest corporate Ethereum treasury worldwide and the second-largest corporate crypto treasury overall, trailing only Strategy's Bitcoin holdings. Chairman Tom Lee stated the accumulation occurred during a perceived "mini crypto winter," viewing the pullback as attractive based on strengthening fundamentals, despite recent geopolitical uncertainty. The company is nearing its goal of acquiring 5% of the total ETH supply. Furthermore, Bitmine has 68% of its ETH staked, generating significant annualized revenue, with plans to launch its MAVAN infrastructure platform to stake the entire position for projected higher annual revenue. Beyond crypto, the company also closed a $200 million investment in Beast Industries.

(Source：The Block)