Bitmine buys 24,266 ETH as its Ether treasury rises to about 4.17M tokens

Bitmine Immersion Technologies said it purchased 24,266 Ether (ETH) over the past week, lifting its total crypto holdings to about 4.17 million ETH, or 3.4% of Ether’s circulating supply, the company said. The purchase came as the company’s chairman urged shareholders to approve a proposal to expand its crypto treasury and staking operations ahead of an annual meeting in Las Vegas.

According to Monday’s announcement, Bitmine reported about $14 billion in combined crypto and cash holdings, including $988 million in cash. The company also holds 193 Bitcoin and a $23 million stake in Eightco Holdings. Bitmine said about 1.26 million ETH are currently staked, an increase of 596,864 ETH from the prior week, and noted that staking involves locking cryptocurrency to help run a blockchain network in return for yield.

Bitmine said it is developing its own staking platform, with plans to deploy it in early 2026. The update included renewed calls from Tom Lee for shareholder approval of an increase in authorized shares, which the company says is needed to support its strategy; the company said its charter requires approval from a majority of outstanding shares and Lee warned that without additional authorization Bitmine’s ability to continue acquiring Ether could be limited.

The annual meeting is scheduled for Thursday in Las Vegas.

Key Topics

Crypto, Bitmine, Ether, Tom Lee, Las Vegas, Staking