Bitmine Immersion Technologies, the largest corporate holder of Ethereum, has increased its treasury by 10,399 ETH, bringing its total holdings to 5,797,813 ETH. The company’s portfolio is valued at approximately $11.3 billion, with Ethereum accounting for around $10.9 billion.
The move follows a strategic shift in the cryptocurrency market, with Bitmine’s chairman, Tom Lee, citing Ethereum’s recent outperformance against the Nasdaq 100. According to Lee, Ethereum gained 25% more than the Nasdaq 100 in July, a claim that has not been independently verified.
Bitmine’s expansion of Ethereum holdings comes nearly a year after it adopted a treasury strategy focused on the cryptocurrency. The company’s staking platform, MAVAN, has deployed 4.92 million ETH, representing 85% of its treasury. This deployment is expected to generate $291 million in annual staking rewards and $247 million in annualized revenue.
The firm holds 4.8% of Ethereum’s circulating supply, a significant stake that underscores its influence in the market. Bitmine’s chairman highlighted what he described as a “strengthening fundamentals of crypto,” though the reference to Ethereum’s outperformance being the “largest since July 2025” raises questions about the timeline cited.
Meanwhile, Strategy, the firm co-founded by Michael Saylor, has paused Bitcoin purchases and announced its third sale of the year, indicating a broader shift in institutional crypto strategies. The exact source of Bitmine’s $11.3 billion portfolio valuation remains unspecified, adding to the context of ongoing market analysis.
The developments reflect a broader trend of institutional investors recalibrating their crypto exposures amid fluctuating market conditions. Bitmine’s focus on Ethereum, coupled with its staking infrastructure, positions it as a key player in the evolving landscape of digital asset management.
Written by Oliver Grant
Markets Desk
