BitMine Guzzles 51,000 ETH: Corporate Giant Defies Vitalik’s Sell-Off in $9.6B Power Play
While other investors are bailing on Ethereum and it's co-founder is dialling back, one behemoth of a company is taking a different...
Quick overview
- BitMine Immersion Technologies has purchased 51,162 ETH, increasing their total holdings to 4.423 million ETH, valued at $9.6 billion.
- The company aims to acquire 5% of the total circulating supply of Ethereum, currently holding 3.66% and making significant progress towards their goal.
- BitMine is actively staking 69% of their Ethereum, generating approximately $171 million annually in rewards, outperforming industry standards.
- While Vitalik Buterin sells portions of his ETH, BitMine's aggressive buying strategy indicates strong institutional confidence in Ethereum's future.
While other investors are bailing on Ethereum and it’s co-founder is dialling back, one behemoth of a company is taking a different approach. BitMine Immersion Technologies (NYSE: BMNR) just splashed out on a massive 51,162 ETH purchase. This brings their total stash to an eye watering 4.423 million ETH.
With a war chest now worth a whopping $9.6 billion, BitMine is no longer just a player in the Ethereum ecosystem – they’re the backbone.
The “Alchemy of 5%”: BitMine’s Aggressive Land Grab
At the helm of BitMine is Executive Chairman Tom Lee, and he’s got his company on a very clear mission – to own 5% of the total circulating supply of Ethereum. That’s the “Alchemy of 5%”. And they’re well on their way, with 3.66% already in the bag.
- Current Stake:423 million ETH (3.66% of total supply).
- Recent Buy: 51,162 ETH (valued at approx. $98 million).
- Progress: The company is now 74% of the way to its ultimate 5% target.
“We think the price of ETH is pretty low given how useful it is and how much of a role it’s playing in the future of finance,” Tom Lee told us, giving the current price stabilisation the thumbs up as a buying opportunity.
Institutional Staking: Turning Volatility into Yield
BitMine isn’t just holding onto its Ethereum – it’s making its money work. They’ve loaded up on staking, which is acting like a cash cow for their shareholders.
- Staked Up:04 million ETH (that’s 69% of all their Ethereum)
- Rewards: They’re making around $171 million per annum in staking rewards
- Yield: Their 2.89% 7-day return is actually better than the industry standard of 2.81%
MAVAN: The “Made in America” Validator Revolution
BitMine’s got a new trick up its sleeve for 2026 – MAVAN, the “Made in America VAlidator Network”. This is going to be a big deal for US-based institutions.
https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-4-423-million-tokens-and-total-crypto-and-total-cash-holdings-of-9-6-billion-302694282.html
This proprietary staking solution is designed to:
- Keep Things Safe: Provide a secure staking infrastructure that’s based right here in the States.
- Boost Returns: When it’s all up and running, they’re expecting to rake in an extra $78 million per year.
- Connect Wall Street: Give US investors a top-notch way to get involved in Ethereum’s consensus process.
The Great Divergence: Vitalik Sells, BitMine Buys
Market watchers are right now seeing something interesting happen. While Vitalik Buterin is offloading small chunks of his ETH (often to fund good causes or just to sell some of his holdings), BitMine is doing the opposite.
This suggests that while the early adopters may be spreading their bets, the big institutional players see Ethereum as the digital collateral that’s going to change the game.
- Banking goes Blockchain: Major US banks are moving trillions of dollars onto the blockchain.
- AI’s financial layer: Smart contracts are becoming the financial backbone for autonomous AI systems.
- Ownership in the Digital Age: On-chain verification is becoming the standard for proving ownership of digital assets.
Market Sentiment: Risk or Reward?
Even though BitMine is sitting on significant losses from earlier this year, they’re not letting that put them off. They’re now the 165th most traded stock in the US, and they’ve got way more liquidity than industry giants like Northrop Grumman.
For the professional trader, BitMine (BMNR) has become a high-beta proxy for Ethereum. For the newbie, it’s a signal that the “big money” isn’t leaving—it’s just getting started.
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