Bitmine Ramps Up Ether Accumulation as Treasury Nears 5% Network Ambition

Bitmine Immersion Technologies (BMNR) has expanded its ether stockpile once again, adding 44,463 ETH over the past week and cementing its position as one of the largest single holders of the asset. Following the latest purchases, the company now controls roughly 3.41% of Ethereum’s circulating supply, according to a disclosure released Monday.

The buying spree builds on momentum from last week, when Bitmine revealed it had surpassed the 4 million ETH threshold as part of a long-term strategy to eventually amass 5% of the total Ethereum supply. The firm has been steadily increasing exposure even as broader crypto markets showed signs of year-end softness.

At current prices, Bitmine’s ether treasury is valued at just over $12 billion. As of Dec. 28, the company reported total crypto and cash holdings of approximately $13.2 billion, including 4,110,525 ETH, 192 bitcoin, and $1 billion held in cash.

Bitmine has also begun putting its ether to work. More than 408,000 ETH is now staked, marking an early step toward the launch of its planned Made in America Validator Network, which the company aims to roll out in early 2026.

Despite the rapid accumulation, BMNR shares have come under pressure, recently trading near $28.50, down nearly 13% over the past week. Ether, meanwhile, was changing hands around $2,950 as the market digested ongoing treasury-driven demand.