crypto-economy.com
TL;DR
- BitMine bought another 60,999 $ETH worth nearly $140 million, lifting total holdings to 4,595,562 $ETH valued at more than $10 billion today overall.
- The company says it still has $1.2 billion in cash for more purchases and is openly targeting 5% of Ethereum’s total supply eventually.
- BitMine also has 3.04 million $ETH staked, producing about $180 million in annual revenue as it turns accumulation into an income-generating strategy for shareholders.
BitMine Immersion Technologies is pushing deeper into Ethereum even as volatility keeps shaking the market, and the latest 60,999 $ETH purchase shows the company is treating price weakness as an opening, not a warning. The newest acquisition, described as BitMine’s biggest of the year, was valued at nearly $140 million with $ETH trading around $2,300. That buy lifts the company’s holdings to 4,595,562 $ETH worth more than $10 billion, giving the NYSE-listed firm an even larger lead as what it calls the world’s biggest corporate holder of Ethereum. Scale makes the move difficult to ignore.
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BitMine provided its latest holdings update for March 16, 2026:$11.5 billion in total crypto + "moonshots":
– 4,595,562 $ETH at $2,185 per $ETH (@coinbase)
– 196 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $83 million stake in…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) March 16, 2026
Treasury ambition keeps expanding
Behind that purchase sits a strategy that is no longer incremental and now looks openly transformative in scope. BitMine says it wants to acquire 5% of Ethereum’s total supply, an ambition that puts its latest move in a much wider context than a single week’s accumulation. The company also said it still holds $1.2 billion in cash reserves earmarked for more $ETH purchases, signaling that the recent buy is not the end of this campaign but another waypoint. In terms, BitMine is behaving less like a passive treasury holder and more like a supply absorber.
What makes the accumulation more striking is how BitMine is pairing a balance-sheet buildout with an income stream from the same asset base. According to the company, 3.04 million of its $ETH is staked, and that position is generating about $180 million in annual revenue. That detail changes the tone of the story. This is not simply a corporate wallet swelling in size while waiting for a price rebound. BitMine is trying to turn Ethereum into both treasury collateral and a yield-producing operating asset, a combination that gives the campaign a more engineered feel overall.
The backdrop makes the decision feel even bolder because BitMine is buying through a period when Ethereum remains down more than 50% from the nearly $5,000 level it reached last August. Rather than stepping back, Tom Lee’s company is accelerating. BMNR stock, meanwhile, has fallen 26% this year to $23.02 per share, underscoring that public-market investors have not fully rewarded the strategy yet. Even so, the message from management is unmistakable: BitMine intends to keep using volatility as a chance to accumulate, stake, and deepen its claim on Ethereum’s future supply over the coming years.