BitMine Immersion Technologies disclosed that its crypto and cash portfolio now totals $13.2 billion, a figure that includes 3,864,951 ETH, 193 BTC, a $36 million stake in Eightco Holdings, and $1 billion in liquid cash. The holdings are valued at $3,139 per ETH, giving the company a market value of roughly $12.1 billion for its Ethereum position alone.
The 3,864,951 ETH represent more than 3.2% of the total Ethereum supply, cementing BitMine’s status as the world’s largest single holder of the cryptocurrency. The 193 BTC add another $6.5 billion to the treasury, while the $36 million stake in Eightco Holdings and the $1 billion cash reserve provide diversification and liquidity. The portfolio’s composition reflects a deliberate shift toward high‑growth digital assets as part of the company’s long‑term treasury strategy.
BitMine’s acquisition pace has accelerated sharply. In the week ending December 3, the company purchased 138,452 ETH, a 156% increase over the 54,156 ETH acquired four weeks earlier. This surge follows a series of weekly purchases that have pushed the total ETH holdings from $10.8 billion in mid‑September to $13.2 billion in early November, and now to $13.2 billion as of December 7. The rapid accumulation signals confidence in Ethereum’s price trajectory and a strategic push toward a 5% ownership stake in the network.
Chairman Thomas Lee emphasized that the accelerated buying was driven by price dips and the recent Fusaka upgrade, which he described as a “catalyst” for Ethereum’s scalability and security. Lee also highlighted the company’s upcoming “Made in America Validator Network” (MAVAN), slated for launch in early 2026, which will allow BitMine to earn staking rewards on its holdings and further monetize its treasury. The combination of aggressive acquisition and planned staking infrastructure positions BitMine to capture both capital appreciation and yield income.
The announcement was met with a positive market reaction, with analysts noting the scale of the treasury expansion and the company’s ambition to become a dominant player in the Ethereum ecosystem. The move also reinforced BitMine’s narrative of long‑term conviction in digital assets, while acknowledging the inherent volatility and regulatory headwinds that accompany large crypto holdings.
The expansion carries both tailwinds and headwinds. On the upside, the Fusaka upgrade and potential Federal Reserve rate cuts are expected to support Ethereum’s price, while the MAVAN platform will generate additional revenue streams. On the downside, the volatility of crypto prices and the risk of regulatory scrutiny remain significant risks. Nonetheless, the company’s diversified cash reserve and strategic focus on staking suggest a balanced approach to risk and reward, positioning BitMine for continued growth in the evolving crypto landscape.
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