BitMine makes smallest purchase of ethereum as asset rises in the new year
Last week, BitMine accrued 32,977 ethereum tokens, bringing its total to over 4.1 million, more than double the combined stockpile of the next 10 ethereum treasury companies.
BitMine Immersion Technologies, the leading ethereum treasury firm, has reprised its role as the largest buyer of ethereum, even if its most recent acquisition is a considerable slowdown from its pace last year.
On Monday, the firm announced that it acquired 32,977 ethereum tokens worth $105.3 million last week, its smallest weekly acquisition since the company started its treasury strategy. BitMine’s weekly purchase of ethereum last month averaged 96,007 tokens, ranging from as low as 44,463 tokens and as high as 138,452 tokens.
Despite the slowdown, BitMine Immersion Technologies has staked 659,219 tokens worth $2.1 billion. BitMine Chairman Tom Lee said in a statement, “At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the ETH staking fee is $374 million annual (using 2.81% CESR), or greater than $1 million per day.”
BitMine’s total treasury now stands at 4,143,502 ethereum tokens, which is 3.43% of the cryptocurrency’s total supply. That’s more than double the combined holdings of the next 10 biggest ethereum treasury firms, including SharpLink Gaming, Ether Machine, and Bit Digital.
The price of ethereum, like bitcoin, has been on the rise in 2026, increasing 8.8% in the past seven days. Its current range is still roughly a 35% drawdown from its all-time high of nearly $5,000 set last year.
Meanwhile, digital asset manager Grayscale announced its ethereum staking ETF distributed staking rewards to shareholders for the first time, “a landmark moment,” Grayscale CEO Peter Mintzberg said in a Monday press release.
