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BitMine Immersion Technologies, the biggest corporate holder of ether, has just completed its largest ETH buy of the year. According to recent disclosures, the company acquired 40,302 ETH in the past week, an outlay of roughly 116 to 117 million dollars at current prices. That purchase lifts BitMine’s treasury to more than 4.24 million ETH, which represents about 3.5 percent of the total ether supply.
The expansion comes on the heels of a shareholder vote that approved an increase in BitMine’s authorized share count. That decision gave the firm additional room to issue equity and raise cash, after earlier signaling that its buying pace might slow without fresh authorization. With the new flexibility in place, BitMine has resumed aggressive accumulation, building on earlier January purchases of around 105 million dollars in ETH that already pushed its holdings above 4 million coins.
BitMine’s balance sheet now combines a large ether position with a sizable pool of other assets. Recent figures put its crypto and cash reserves at about 12.8 billion dollars, including 193 bitcoin, roughly 682 million dollars in cash, and minority stakes in companies such as Eightco Holdings and Beast Industries, the venture linked to creator MrBeast. The firm has also been leaning into Ethereum’s proof of stake system. More than 2 million ETH from its treasury is now staked, almost half its total holdings, which turns a significant slice of the portfolio into a yield generating position.
That staking push has visible network effects. On chain data shows that BitMine’s rapid validator growth has helped lengthen the wait time for new entrants, with estimates putting the queue to become an Ethereum validator at more than fifty days. Management has indicated that the company expects its ether holdings to generate over 400 million dollars in annual pre tax income at current reward levels, and has publicly discussed a long term ambition to control around five percent of ETH’s total supply.
For now, the latest 40,000 plus ETH purchase confirms that BitMine is sticking to its strategy despite volatile prices and large unrealized swings on its position. While many corporate treasuries have stayed cautious around digital assets, BitMine continues to present itself as a dedicated ether vehicle that is willing to use equity issuance and staking to steadily increase its exposure to the Ethereum ecosystem.
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