Bitmine Reaches $16 Billion in ETH Holdings, Overtakes 6 Million Threshold

Bitmine Immersion Technologies has become the largest corporate holder of Ethereum, surpassing the 6 million ETH threshold and accumulating over $16 billion in value. The company added 17,362 ETH to its treasury in the past week alone, continuing an accumulation strategy that's been quietly turning a Bitcoin mining outfit into a major player in the Ethereum market.

Bitmine's treasury strategy is similar to MicroStrategy's (formerly) Bitcoin accumulation model, where a publicly traded company becomes a leveraged bet on a single digital asset. However, unlike Bitcoin, Ethereum can be staked for yield, and Bitmine has aggressively leaned into this feature through its proprietary MAVAN platform.

Over 85% of the company's ETH holdings are staked through MAVAN, generating between $211 million and $357 million in annualized revenue. The company ranks as the largest corporate ETH treasury holder and the second-largest overall digital asset treasury behind MicroStrategy.

Bitmine chairman Thomas 'Tom' Lee has steered the firm toward this identity since the accumulation push began in mid-2025. While the pace of buying has cooled, Bitmine is now brushing up against its goal of reaching 5% ownership of Ethereum's total supply.