Bitmine Immersion Technologies added to its Ether holdings last week as its chairman urged shareholders to approve a proposal that will allow the corporate to further expand its crypto treasury and staking operations.
The company said it purchased 24,266 Ether (ETH) last week, bringing its total crypto holdings to about 4.17 million ETH, or 3.4% of the token's circulating supply.
According to Monday's announcement, the corporate reported combined crypto and money holdings of roughly $14 billion, including $988 million in money. In addition to ETH, it holds 193 Bitcoin (BTC) and a $23 million stake in Eightco Holdings.
Bitmine also expanded its staking activity, with around 1.26 million ETH currently staked, up 596,864 ETH from the previous week. Staking is about locking cryptocurrencies in exchange for helping run a blockchain network. Bitmine is working by itself staking platform and plans to deploy it in early 2026.
The update also brought renewed calls from Tom Lee for shareholder approval of a rise in authorized shares, which the corporate says is required to support its strategy, ahead of its annual meeting scheduled for Thursday in Las Vegas.
Lee said the corporate's charter requires the approval of a majority of outstanding shares and warned that without additional approval, Bitmine's ability to proceed acquiring Ether might be limited.
According to Yahoo Finance data, Bitmine shares rose 3% in early trading, while Ether (ETH) traded near $3,100, down 3.3% over the past seven days.
Source: Yahoo Finance
Bitmine and Strategy dominate digital asset treasury corporations
In 2025, a wave of digital asset treasury firms emerged as corporations adopted strategies focused on holding Bitcoin, Ether, and other cryptocurrencies on their balance sheets. While lots of of corporations have entered this space with different approaches, treasury holdings are highly concentrated.
According to data from CoinGecko, Bitmine has emerged as the most important Ether treasury company by a large margin, holding 4,167,768 ETH value nearly $13 billion, in comparison with Sharplink, the second-largest holder, which reports 864,840 ETH, and The Ether Machine, which holds just below 500,000 ETH.
The five largest Ether treasury corporations. Source: CoinGecko
On the Bitcoin side, Strategy, led by Michael Saylor, continues to outshine other business owners after launching the Bitcoin treasury model in 2020. The company holds 687,410 BTC, in keeping with BitcoinTreasuries.NET, well ahead of Mara Holdings Inc. with 53,250 BTC and Twenty One Capital with 43,514 BTC.
The five largest Bitcoin financial corporations. BitcoinTreasuries.NET
Neither company has shown signs of slowing down. Last week, Strategy added 13,627 BTC to its balance sheet at a price of $1.25 billion, marking the most important Bitcoin purchase since July. Bitmine has stated that it’s looking for to own 5% of the overall supply of Ether, or about 6 million ETH.
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