BitMine Immersion Technologies completed its biggest Ether acquisition of 2026, adding 40.302 ETH to its corporate treasury in a transaction valued at about $117.1 million. The purchase followed a shareholder-approved expansion of the firm’s authorized share count, a move that gave BitMine fresh capital flexibility for treasury accumulation.
The deal was confirmed by major crypto outlets and the company, and it pushed BitMine’s reported Ether holdings to 4.240.000 tokens, a position the firm says represents roughly 3.52% of the total Ethereum supply. This size cements BitMine’s status as the largest corporate Ethereum treasury operator and shifts the balance of institutional ETH demand.
BitMine executed a single purchase of 40.302 ETH, worth approximately $117.1 million, according to published reports. The addition raised the company’s total crypto and cash holdings to $12.8 billion on BitMine’s account. The purchase was made after shareholders approved an increase in the firm’s authorized shares, enabling new capital-raising options that management has used to fund treasury accumulation.
This expansion of holdings is material in absolute and relative terms. At 4.240.000 ETH, BitMine now controls a concentrated stake in the protocol. The company publicly framed the move as strategic accumulation aimed at both capital appreciation and on-chain income generation.
Staking, yield and strategic outlook
BitMine is not only accumulating spot ETH but also staking a large slice of its holdings. The firm has staked over 2.000.000 ETH. The staked balance was valued near $5.7 billion and the company projected it would generate more than $400 million in annual pre-tax income from staking rewards.
This dual approach—aggressive spot accumulation plus staking yield—illustrates a treasury strategy that combines directional exposure with recurring revenue. BitMine’s leadership, under chairman Tom Lee, has publicly signalled an ambition to increase influence on the Ethereum supply, with a stated target to control 5% of total ETH.
Market participants should read this as a coordinated treasury strategy rather than a one-off trade. Expanding the share base gave BitMine immediate funding capacity; management has converted part of that capacity into long-duration ETH exposure and staking positions that produce yield.
Investors are now turning their attention to how BitMine will operationalize its stated goal of reaching control of 5% of the Ethereum supply, and to any future capital raises or share issuances enabled by the shareholder vote. Staking income will be watched closely as a steadying revenue line, while further accumulation could influence institutional flows into ETH and affect liquidity at scale.
