Bitmine Immersion Technologies expanded its Ethereum holdings by buying around 61,000 ETH, bringing its total holdings to 4,534,563 ETH as prices broke above the $2,000 level.
The move comes as the broader crypto market continues to grow. Bitcoin rose to $69,000, while Ethereum regained $2,000, reflecting renewed investor interest in digital assets amid heightened geopolitical tensions around Iran and volatility in traditional markets.
As of March 8, 2026, Bitmine reported total crypto, cash, and strategic investments of approximately $10.3 billion. The company has 4.53 million ETH worth about $1,965 per token, along with 195 Bitcoin, $1.2 billion in cash and smaller equity investments, including a $200 million stake in Beast Industries and $14 million in Eightco Holdings.
Ethereum’s position is about 3.76% of the total transaction volume, making Bitmine the largest Ethereum corporate treasury worldwide.
Bitmine Chairman Tom Lee said the company believes the crypto markets may be nearing the end of what he described as the small crypto winter. Lee cited an analysis by market strategist Tom DeMark, whose models compare Ethereum’s current price structure to the historical market recovery in the S&P 500 between 1987 and 2011.
According to Lee, the correlation between ETH’s current trajectory and those historical patterns is around 89% and 93%, which indicates that the potential may arise from March 8 to March 14, which is slightly below the low near $1,740.
Based on this perspective, Bitmine increased its accumulation rate. The company earned 60,976 ETH last week, compared to its previous weekly average of around 45,000 to 50,000 ETH.
In addition to staking, Bitmine is expanding its staking operations. The company currently holds 3,040,483 ETH, worth about $6 billion, which is about 67% of Ethereum’s total assets.
Lee said the staking program generates $174 million in annual revenue and has the potential to reach $259 million annually when all ETH is staked through the Made in America Validator Network (MAVAN). The staking infrastructure platform is expected to launch in early 2026.
Bitmine is the world’s largest holding of Ethereum and the second largest holding of corporate digital assets after Strategy, which holds more than 720,000 bitcoins, with an estimated $48 billion.
