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.

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Filed under: News - @ March 16, 2026 4:31 pm