BitMine Hoards 4.33M ETH—Becomes Largest Public Holder, Stakes Two-Thirds

Headline: BitMine Becomes Largest Public ETH Holder, Amasses 4.33M ETH During Major Drawdown BitMine Immersion Technologies has quietly surged to the top of public Ethereum treasuries, accumulating roughly 4.33 million ETH — about 3.6% of the total ETH supply — even as ether’s price slumped. CoinGecko data shows the company added more than 180,000 ETH in the past 30 days alone, signaling active buying rather than a long-held legacy position. What happened - BitMine built its position while ETH traded near $2,100, more than 60% below 2025 highs. The sell-off deepened in late January before prices showed tentative stabilization in early February, but overall momentum remains weak. - At current prices, BitMine’s ETH stake is worth over $9 billion and now forms the core of the company’s crypto treasury, alongside smaller BTC holdings, cash, and minority venture stakes. On-chain context and staking - Despite the price decline, the market-cap-weighted Ethereum staking rate has stayed relatively steady at about 2.7% (source: TradingView). That suggests validator participation and network security have not meaningfully deteriorated in line with sentiment. - BitMine has put that to work: roughly two-thirds of its ETH is staked, generating yield while effectively locking a large portion of supply out of circulation. Why it matters - CoinGecko’s treasury rankings show the next-largest public ETH holder controls under 1% of supply, leaving BitMine several times larger than any comparable corporate holder. That concentration introduces a new variable into Ethereum’s market structure that hasn’t existed at this scale in prior cycles. - So far, heavy corporate accumulation hasn’t been enough to spark a sustained ETH price recovery. The market remains fragile, and there’s little evidence that corporate buying alone can change broader dynamics — but the growing gap between muted price action and aggressive balance-sheet accumulation is increasingly notable. Bottom line BitMine’s move reframes how at least one public company approaches crypto exposure: Ethereum is no longer a marginal treasury asset for them but a strategic, long-term anchor. Whether that concentration will influence future price floors or market behavior remains an open question as ETH searches for a durable base. Disclaimer: This content is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news