Bitmine, which has been a major player in the Ethereum market for several years now, increased its stakes to $352,000,000 this week.
You can read more about it here:
- Bitmine staked 118,944 ETH ($352M), bringing total staked ETH to 461,504 ETH ($1.37B)
- On-chain data shows continued accumulation, including a $97.8M ETH transfer from FalconX
- Despite the large losses that have not been realized, this firm continues to pursue a long-term ETH treasury/validator plan.
Bitmine’s growth is unaffected by the fact that Ethereum has fallen well below levels where it built up much of the position.
OnChain Lens, a blockchain tracking service, tracked Bitmine stakes of 118 944 Ethereum on December 31.ETH), valued at approximately $352.16 million at the time of the transaction. The firm’s overall revenue increased after the acquisition. staked Ether has risen to 461,504 Ether worth about $1.37 billion, based on current market values.
A longer-term holding horizon is indicated by the activity of staking.
This same set of data also identified a newly-created wallet which received 32,938 Ethereum, worth approximately $97,8 million from FalconX, a trading company. Bitmine appears to be controlling the address, as the on-chain behaviour suggests.
The firm has had a very busy month. Bitmine has added 44,463 Ethereum, worth about $132 Million, in the last week. In December it purchased 67,886 Ethereum worth approximately $201 Million, along with other purchases of 29,462 ($88) and 32938 ($97.6 millions).
ETH treasury aggressively built despite market pressure
Tom Lee is the chairman of Bitmine Immersion Technologies Inc., a company that has shifted their core strategy for 2025. The company was originally focused on immersion cooling to support crypto mining. However, it has since shifted its focus towards large-scale digital assets. accumulationEthereum is now the focus of this effort.
According to current estimates, Bitmine is the second largest crypto treasury in terms of global holdings, after Strategy’s Bitcoin. According to a report, the company holds 4.07 million Ethereum worth over $12 billion. data Strategic ETH Reserve
The downside of this strategy is obvious. Bitmine’s unrealized losses are estimated at $3.5 billion. Even though the market has been in a downturn, Bitmine’s management continues to accumulate, with a goal of acquiring 5% of Ethereum’s current supply.
In Q1 2026 the firm will launch its Made in America Validator Network, or MAVAN. This network will run Ethereum validators in the United States. Bitmine is planning its next shareholders meeting for January 15, 2026 in Las Vegas. Lee will be presenting the company’s ETH treasury plan and future positioning.
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Source: crypto.news
