BitMine Immersion Technologies has increased its Ethereum treasury again, extending the accumulation strategy championed by chairman Tom Lee and pushing the company further into a dominant position among corporate ETH holders.
In its March 9 weekly update, BitMine said it had acquired 60,976 ETH over the prior week, lifting total holdings to 4,534,563 ETH as of March 8 at 4:00 p.m. ET. Using the company’s reference price of $1,965 per ETH, that treasury was worth about $8.9 billion at the time of the update, while total crypto, cash, and other holdings reached $10.3 billion.
At current pricing near $2,058.39, the latest 60,976 ETH tranche is worth about $125.5 million, total ETH holdings are worth about $9.33 billion, and BitMine’s 3,040,483 staked ETH are worth about $6.26 billion.
What BitMine Bought
The latest weekly purchase matters because it shows BitMine is still accelerating rather than slowing its ETH treasury build. The company said it bought 60,976 ETH during the week ended March 8, up from 50,928 ETH in the prior weekly update on March 2.
That means the new buy was not just another routine add. It represented a faster pace of accumulation into a market that had recently been under pressure from oil-driven macro stress and ETF outflows before rebounding. BitMine’s message is that the pullback still looked attractive enough to keep adding size.
How Large the Treasury Has Become
BitMine said its 4,534,563 ETH represented 3.76% of the 120.7 million ETH supply as of March 8. On a live-price basis, that treasury now sits above $9.3 billion, while the staked portion alone amounts to roughly 2.52% of the entire ETH supply.
Those percentages are the real story. BitMine is no longer simply a public company with a crypto treasury. It is becoming a concentrated supply holder in Ethereum itself, with enough scale that its treasury management and staking decisions now matter for how investors think about liquid supply, staking concentration, and the corporate bid for ETH.
Why the Staking Angle Matters
BitMine also said 3,040,483 ETH are already staked, which the company described as more ETH staked than any other entity currently holds in validator form. Using BitMine’s own figures, annualized staking revenue stood at about $174 million, with the company targeting a larger validator operation through its planned Made in America VAlidator Network, or MAVAN.
That changes the economics of the treasury strategy. BitMine is not only warehousing ETH as a balance-sheet asset. It is converting a large share of that treasury into yield-bearing infrastructure. In market terms, that means the company is treating ETH less like a passive reserve and more like a productive financial asset whose return profile includes both price appreciation and staking income.
Why the Market Watches These Adds
Corporate bitcoin buys are already familiar to the market. A treasury strategy built around Ethereum creates a different set of implications because ETH has an active yield mechanism and a broader role in stablecoins, DeFi, and tokenized finance. When a company accumulates and stakes at this scale, the market starts tracking more than treasury value. It also starts tracking validator concentration, yield capture, and how much supply is being taken out of the immediately liquid float.
That is why BitMine’s latest add matters beyond the headline number. The company is still buying, still staking, and still moving toward a stated goal of owning 5% of ETH supply. With more than 4.53 million ETH now on the balance sheet and more than 3.04 million ETH already staked, BitMine is turning its treasury strategy into a direct statement about Ethereum’s role as both reserve asset and yield-bearing infrastructure.
Recently, Strategy has expanded its bitcoin treasury again, adding 17,994 BTC for about $1.28 billion at an average price of roughly $70,946 per coin and pushing its total holdings to 738,731 BTC.
The post BitMine Adds More ETH and Deepens Staking Push appeared first on Crypto Adventure.