Bitmine Expands Ethereum Control to 3.71% as Tom Lee Backs ETH During Market Pullback

• Bitmine now controls 3.71% of Ethereum supply
• Tom Lee backs ETH during ongoing market pullback
• Staking strategy targets $253 million in annual revenue

Bitmine Immersion Technologies has raised its Ethereum exposure to 4.47 million ETH as of March 1, strengthening its position in the digital asset sector. The Las Vegas based firm now controls about 3.71% of the total ether supply. At a market price near $1,976 per ETH, those holdings carry an estimated value of $8.8 billion.

According to Chairman Tom Lee, the company accelerated purchases during what he described as a mini crypto winter. He said Bitmine views the recent pullback as attractive given Ethereum’s underlying fundamentals. Moreover, he stated that ETH’s current price does not reflect its expanding utility or financial role.

The latest update shows Bitmine added 50,928 ETH over the past week. Consequently, the company now sits within 27% of its stated objective of owning 5% of the total ether supply. That target, if reached, would further tighten corporate concentration within the Ethereum ecosystem. Although ether traded around $1,935 on Monday, it remains well below its August 2025 all time high of $4,946. However, Bitmine appears focused on long term positioning rather than short term volatility. Lee also warned that geopolitical uncertainty has intensified following U.S. combat operations against Iran. He added that market effects may unfold in coming weeks.

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Staking Strategy Drives Revenue Expansion

Beyond accumulation, Bitmine has integrated a large scale staking strategy into its treasury model. The company reported that 3,040,483 ETH, or about 68% of its holdings, currently generates yield through staking where based on a 2.86% seven day yield, annualized revenue stands near $172 million.

Additionally, Lee noted that the Composite Ethereum Staking Rate, administered by Quatrefoil, measured 2.83%. Bitmine expects staking revenue could climb to $253 million annually once it stakes its full ether balance. The firm plans to route those assets through the Made in America Validator Network, known as MAVAN, later this quarter. It is also working with three staking providers ahead of a broader infrastructure rollout in early 2026.

Besides its Ethereum treasury, Bitmine disclosed a $200 million initial investment in Beast Industries. It also maintains a $14 million stake in Eightco Holdings. Shares traded near $18.98 in pre market activity. Bitmine’s latest disclosures highlight a deliberate effort to consolidate Ethereum exposure while expanding staking income. As volatility persists, the company continues to link treasury growth with yield generation and infrastructure development.

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