News
Bitmine Immersion Technologies increased its Ether (ETH) holdings over the past week as Chairman Tom Lee asked shareholders to approve an expansion of authorized shares to support the company’s crypto treasury and staking plans.
The company disclosed the purchase of 24,266 ETH during the week, bringing total holdings to approximately 4.17 million ETH, representing about 3.4% of the token’s circulating supply.
In a Monday update, Bitmine reported roughly $14 billion in combined crypto and cash, including $988 million in cash. Beyond ETH, the company holds 193 Bitcoin (BTC) and a $23 million position in Eightco Holdings.
Bitmine also increased its staking activity, with about 1.26 million ETH currently staked, up 596,864 ETH from the prior week. The company is building a proprietary staking platform, with deployment targeted for early 2026.
Lee reiterated calls for shareholders to approve an increase in authorized shares ahead of the annual meeting scheduled for Thursday in Las Vegas. He noted that the company’s charter requires approval by a majority of outstanding shares and cautioned that, without additional authorization, Bitmine’s ability to continue acquiring ETH may be constrained.
In early trading, Bitmine shares rose 3%, while Ether traded near $3,100, down 3.3% over the past seven days.
Source: Yahoo Finance
Bitmine, Strategy dominate digital asset treasury companies
The year 2025 saw a rise in digital asset treasury strategies, with companies adding Bitcoin, Ether and other cryptocurrencies to their balance sheets. Despite the influx of participants, holdings have become highly concentrated.
Data from CoinGecko indicates Bitmine is the largest corporate holder of Ether by a wide margin, with 4,167,768 ETH valued at nearly $13 billion. Sharplink ranks second with 864,840 ETH, followed by The Ether Machine with just under 500,000 ETH.
Top five Ether treasury companies. Source: CoinGecko
On the Bitcoin side, Strategy, led by Michael Saylor, remains the largest corporate holder after initiating the Bitcoin treasury approach in 2020. According to BitcoinTreasuries.NET, the company holds 687,410 BTC, ahead of Mara Holdings Inc. with 53,250 BTC and Twenty One Capital with 43,514 BTC.
Top five Bitcoin treasury companies. BitcoinTreasuries.NET
Both companies continue to add to their positions. Last week, Strategy acquired 13,627 BTC for $1.25 billion, its largest purchase since July. Bitmine has stated it aims to own 5% of Ether’s total supply, or about 6 million ETH.
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