BitMine boosts ETH treasury to 4.42M even as Ethereum co-founder sells

BitMine Immersion Technologies has significantly expanded its Ethereum holdings, now controlling 4.423 million ETH, equivalent to roughly 3.66 % of the total circulating Ether supply, according to the company’s latest disclosure.

BitMine buys the dip as Vitalik Buterin offloads ETH

The move places BitMine among the largest institutional holders of Ethereum (ETH) globally, with an aggregate crypto and cash portfolio valued at approximately $9.6 billion.

Despite a period of market weakness that has seen prices pull back from 2025 peaks, BitMine has continued to accumulate Ethereum, purchasing an additional 51,162 ETH in recent activity, a move that contrasts with broader sell-side pressure observed in the ecosystem.

“In the midst of this ‘mini crypto winter,’ our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and in turn, optimizing the yield on our ETH holdings,” said Tom Lee, Chairman of Bitmine.

Of its total ETH stack, 3.04 million are currently staked, generating annualized rewards and underscoring BitMine’s focus on yield alongside accumulation.

The buying trend comes as the broader crypto market, including Ether, remains in a softer phase, with prices retreating from highs reached last year. During this period, Ethereum co-founder Vitalik Buterin has also been selling ETH from personal wallets, drawing attention from traders and on-chain analysts alike.

Buterin’s sales, valued at millions over recent weeks, have coincided with price consolidation and heightened volatility in ETH markets.

BitMine Chairman Thomas “Tom” Lee recently emphasized the company’s long-term approach, viewing current price levels as attractive entry points given Ethereum’s foundational role in decentralized finance, tokenization, and smart contract innovation.

BitMine is also progressing with its proprietary MAVAN staking infrastructure, slated for launch in early 2026, aimed at enhancing network participation and yield optimization.

Analysts say BitMine’s accumulation strategy highlights diverging institutional attitudes toward Ethereum with some high-profile insiders trimming positions while treasuries and corporates double down on long-range conviction.