Catenaa, Sunday, June 14, 2026-Bitmine Immersion Technologies has expanded its Ethereum treasury by acquiring 126,971 ETH worth approximately $207 million, bringing total holdings to 5.54 million ether as the company aggressively increased purchases during one of the cryptocurrency’s sharpest declines of the year.
The latest acquisition raises Bitmine’s holdings to roughly 4.59% of Ethereum’s circulating supply, placing the company within reach of its long-stated objective of controlling 5% of all ETH in circulation.
The purchase comes as Ethereum remains under heavy pressure following a broad cryptocurrency market selloff that pushed prices roughly 30% below April highs.
The latest purchase represents a significant acceleration in Bitmine’s accumulation strategy.
The company acquired only 26,497 ETH during the previous reporting period, meaning last week’s purchase was nearly five times larger.
Bitmine Chairman Tom Lee said the company viewed the decline as a buying opportunity rather than a sign of deteriorating fundamentals.
Lee argued that Ethereum’s long-term outlook remains intact despite recent price weakness and said market participants are underestimating the network’s growing importance in future digital infrastructure.
Following the latest acquisition, Bitmine now holds 5,543,872 ETH.
Based on Ethereum’s estimated circulating supply of 120.7 million tokens, the company has already achieved approximately 92% of its target to accumulate 5% of the network.
To reach that milestone, Bitmine would need to acquire roughly another 490,000 ETH.
The company remains the world’s largest corporate Ethereum treasury and the second-largest cryptocurrency treasury overall behind Michael Saylor’s Strategy, which holds more than 845,000 Bitcoin.
Bitmine continues generating yield from the majority of its Ethereum holdings.
The company reported that 4.72 million ETH, representing approximately 85% of its treasury, is currently staked.
Using current staking yields, Bitmine estimates annualized staking revenue of roughly $230 million.
That figure could rise to approximately $270 million if the company fully deploys its holdings through its MAVAN validator network and external staking partners.
MAVAN, short for Made in America Validator Network, was originally created to support Bitmine’s treasury operations but is now being expanded for institutional clients.
Beyond Ethereum, Bitmine reported total crypto, cash and strategic investments valued at approximately $9.6 billion.
The portfolio includes $247 million in cash reserves, a $180 million investment in Beast Industries and an $88 million stake in Eightco Holdings.
The company said its Eightco investment also offers indirect exposure to artificial intelligence through connections to OpenAI-related initiatives.
Bitmine’s aggressive accumulation strategy highlights growing divisions within the crypto market over Ethereum’s future.
While many investors remain concerned about weak prices and slowing market activity, Bitmine continues positioning itself for a long-term recovery driven by staking income, institutional adoption and growing demand for decentralized blockchain infrastructure.
The company’s next major milestone will be achieving its 5% Ethereum ownership target, a level that would further strengthen its position as the largest corporate holder of the world’s second-largest cryptocurrency.
