Home / Business and Economy / BitMine Bets Big: ETH Holdings Soar Amid Market Dip
BitMine Bets Big: ETH Holdings Soar Amid Market Dip
10 Dec
Summary
- BitMine acquired 138,452 ether, boosting holdings to 3.86 million tokens.
- Company's cash reserves increased to $1 billion last week.
- BitMine now holds over 3.2% of Ethereum's circulating supply.
BitMine Immersion Technologies has dramatically expanded its Ethereum holdings, acquiring 138,452 ETH in the past week. This aggressive strategy has pushed the company's total reserves to 3.86 million tokens, solidifying its status as the largest known ETH treasury with over 3.2% of the cryptocurrency's circulating supply.
In parallel, BitMine has increased its cash reserves to $1 billion, up from $882 million the previous week. The firm's total assets, including its cryptocurrency and cash, are valued at $13.2 billion. This accumulation occurs as other digital asset treasuries slow their buying.
Company leadership cited Ethereum's recent Fusaka upgrade and anticipated Federal Reserve rate cuts as reasons for increasing ETH purchases. They believe these factors, combined with growing adoption and tokenization interest, will support a stronger ETH market in early 2026.
