Bitmine Immersion Technologies Acquires 10,399 Ethereum to Lead Corporate Holdings

Bitmine Immersion Technologies Inc. acquired 10,399 Ethereum (ETH) over the past week, valued at approximately $19.5 million. This acquisition increases the company's total holdings to 5,797,813 ETH, worth about $10.9 billion, establishing Bitmine as the world's largest corporate holder of the cryptocurrency. The company now controls approximately 4.8% of the network's circulating supply, approaching its stated target of 5%.

In a separate capital management move, Bitmine repurchased 4.5 million shares of common stock. This action is part of a $4 billion buyback program and brings the total number of shares repurchased to 16.1 million since July 1, 2026. Chairman Tom Lee stated that the management team views the shares as attractively valued.

Bitmine currently stakes approximately 85% of its holdings via its MAVAN platform. The company projects that this staking strategy will generate $247 million in annualized revenue.