BitMine’s ETH Bonanza: A Record Purchase Shakes the Ledger

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Finance

What to know:

  • BitMine seized 40,302 ETH last week, its largest purchase of 2026 to date.
  • The move followed a shareholder vote to expand the firm’s authorized share count.

BitMine Immersion Technologies (BMNR), the steward of the second brightest flame in the digital realm, ether, made its year’s largest ETH purchase last week after a shareholder vote opened fresh corridors to raise capital.

The firm said on Monday it added 40,302 ETH – worth almost $117 million at current prices – to its treasury, lifting its holdings to over 4.24 million tokens, or about 3.52% of ether’s breath.

The crypto and cash tally now stands at $12.8 billion, including 193 bitcoin, $682 million in cash, and stakes in Eightco Holdings and Beast Industries, the venture sprouted by YouTube’s MrBeast.

The purchases followed shareholders’ blessing to widen BitMine’s authorized share count, enabling the company to raise more money through equity issuance. That flexibility let BitMine resume its brisk accumulation after hints earlier this month that the pace could waver without fresh authorization.

BitMine says it has also staked over 2 million ETH – nearly half of its total-turning a sizable slice of its treasury into a yield-bearing whisper. The rapid ascent has crowded the Ethereum staking network, where the wait to become a new validator now stands at 54 days.

The company anticipates more than $400 million in annual pre-tax income from its ether holdings, according to Chairman Tom Lee at a shareholder meeting earlier this month.

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2026-01-26 19:12